I completely agree with you at the price you posted at in April, now it's $157 and only growing best case scenarios with currency going it's way 15% P/A. They guided for 7-12% growth and even if you assume that going out many years, it is still very expensive. For 10% growth compounded over a few years I get a $90-$110 range. This stock is going to have to pull a massive rabbit out of it's hat soon because it is trading on a multiple that suggests 20-30% P/A earnings growth for many years.
CSL is expensive but not like this, it has a better growth outlook and trades at 32 times earnings. The share price for COH is akin to property prices in Melb and Syd - 30 - 50% overvalued. I think there is a significant valuation risk in COH and has been for some months.
COH Price at posting:
$157.50 Sentiment: Sell Disclosure: Not Held
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