Last year's result has pretty much been factored into the price when it fell to sub-20. What the current pricing action is focusing on is next year's outlook which, based on their 2010 earning guidance of 600mn, represent a fwd PE of 14.7 and FF yield of 6.45% based on expected div of about 200cps. Hardly expensive.
618
Last year's result has pretty much been factored into the price...
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