hmmmm, not sure if i know much about this...
on a comparable value, bkl is worth the 110 mark, i think. whys that, well some time ago we had some analyst saying 25% growth year on year for bkl to justify 220. almost one year later, bkl has halved and everything equal (which its not) now we can expect returns of around 14%pa. lowball with its current pe ratio, unaccounted for the growth, which is greater on a pa basis than the implied 10% pa in stock price....
oh yeah and ppl paid 1.67B approx for swisse, on profits no more than 50M. we just made 100M... which should put us at least where we are in terms of value.
as for the daigous, thats definitely not good news, but bkl has to set up the right gargantuan distribution volume with more standardized and reliable channels- which a daigou is not... and generate and support sales revenues like is exepected. which imo will be more around the 20% (thats below average growth yoy btw) mark yoy given current and future growth prospects.
in my very unreliable opinion, my first gamble goes towards starting coverage with a buy at 110.
but then this could all be crazy talk!?
hmmmm, not sure if i know much about this... on a comparable...
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