Today's announcement indicates a forecast EPS of 34-36c which places ABC on a forecast PE of 4.7 which is cheap in my book.In my view ABC has been way oversold from a year high of $7.66.The debt issue will be resolved via MS deal or a rights issue.Major shareholders are on the register and as the share price moves up short sellers will need to cover their positions.All in All ABC is a good buy at $1.60.
ABS Price at posting:
0.0¢ Sentiment: None Disclosure: Held
