Its magic isn't it , just pluck a P/E number out of the air and multiply whatever EPS you think is appropriate and come up with any shareprice you want..
What we do know is last FY'S EPS was 17.6c ,the current shareprice reflects a PE of 3.46 based on those earnings. This years EPS will be higher and will eventually be reflected in higher shareprice and probably a higher P/E.
As a rough guide FMG which is a stellar performer in the IO space has a P/E of 8.3
The bottom line is expect a higher shareprice going forward.
Cheers Whisky
Grange's Iron ore pellets at A$427/tonne, page-126
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