4c is where I think its fair value is. Still a long way to get there!
Will struggle massively, wages in this tight market will eat massively into anemic margin. Those still operating and hanging on are due to leases, otherwise most would have bailed.
Just do a quick study on new vs existing sale on the market and I can see this is not going anywhere anytime soon. Theor balance sheet is fine but they will see seeing decline with no end in sight. My price target: 4c.
Pizzas & Donuts for thought...., page-30
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