p/e 16.5 is far too high. npat growth is negative or flat. even...

p/e 16.5 is far too high. npat growth is negative or flat. even after cost cutting. so future growth is maybe 5% at best. thats not a good growth rate. should be closer to 12 to 13x p/e imho with a dividend in line with the banks. stock is over valued 20% at bottom of range on my numbers. most analysts cite cost cutting, but we should be looking at overall growth, as cost cut gives a temporary boost. there are heaps of risks too - like competitive pressures.