is going up from here, page-7

Fundamentally flawed ... how can it keep going up .... it held out at the $4.30 region for so long without any profit forecast downgrades ... now they have made Earnings downgrade of up to 25% which equates to EPS of 29c down from current EPS for 04/05 of 38c.
For a PE ratio of 14 (which assumes the upper level of demand for the stock) the stock should be re-rated to $4.06 ... so I can't see the stock being returned to the likes of $4.30.
Infact I see it lower still because management have backpeddled on returning capital to shareholders, have capped dividend to 28c per year for next 2 years, they've increased capex massively ($2Billion plus per year), written off assets and have forecast less copper usage and admitted to flat mobile growth ... so the company won't fly upwards too much further once people sit down and rationally think about this.

Oh ... and don't forget the revenue loss of between $200-800 million if they lose their monopoly on ULL, which the ACCC will announce sometime within the next few months ... alot of challenges to their silly little forecasts!