JP Morgan upgraded RFG last night., page-11

Yes i agree that in the future it was a great buy however it would be good to see some good growth without any dilution for the next few years. One of the best defences for a share price in uncertain times is a excellent balance sheet.

Although its balance sheet is good now, i think another acquisition in the near future would have a negative affect on it.

By no being a bargain i mean it only just improved eps and took on a little extra debt, so as a shareholder with the dilution I’m only just a little better off but not by much.