Mining service sector very out of favour. Montgomery has written yet another piece saying "AVOID". He esp remains pessimistic re companies with high capex, and BLY is one.
I would look to buy BLY using a fwd FY2013 PE of 5-5.5 tops. Then sell at PE of 6.5-7. Anyone have a figure for FY13 EPS? If you think this is cheap.... then look around. Plenty MS companies with far less debt than BLY currently on sale with PE below 5.0.
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