Compared to the P/E of what? XRO? APT? WTC? or CBA?
Out of all the high P/E tech stocks on the ASX I think PME has the strongest likelihood of generating the earnings growth to justify the current prices. A lot of these tech stocks in my opinion do not have the underlying businesses to ever justify their current valuations - and I feel PME is being unfairly tarred by the same brush.
Keep in mind that PME's PEG (Price/Earnings/Growth ratio) is lower than that of CBA
PME Price at posting:
$21.98 Sentiment: Buy Disclosure: Not Held
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