IMO - the market is yet to really get this one wrong. When the SP has rallied - prior to an announcement - the subsequent announcement seems to back up the speculative rally. NAN has flagged the upcoming half-yearly as a point in time when more details about the new product line can be announced, and knows that this is market sensitive. They have not made an amendment to that timetable, so we can assume that their silence is confirmation that there will indeed be some details released soon.
I have seen some rough n ready valuations on these threads that seem to indicate that the current SP includes an element of future (unknown, new product) earnings. But equally, one could argue that the current SP actually falls short even using current earnings projections for current product lines (given the growth rates being experienced across various markets, and the trailing earnings that also need to be added back). Rather than add another valuation to that collection, I think it would be wise if we simply wait and see what NAN themselves say with regards to their opinion of current and future earnings.
I see NAN being another CSL in 8-10 years time: a leader across multiple lines, with solid market growth and excellent R&D. As for SP; who knows. Pre-half yearly I would not be surprised to see that $7.60 level tested, but expect a little bit of volatility above that price.
NAN Price at posting:
$7.07 Sentiment: Buy Disclosure: Held
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