Sold my holding in Ramsay this week. Surely at PE of circa 20 times the SP can only go south? , even with the growth forecast ? On the forecast numbers given by most analyst they will still be on a high PE of 12 times in 4 years and that assmes they will be successful in executing their overseas expansion strategy while continuing to grow the business here in Australia ? Overseas expansion is always dangerous and often dissapoints ?
imo there is more risk to the downside on this one and better opportunities elsewhere ? Cant hold for the dividend either as that is less than 3%.
Thoughts ?
ramsay overpriced and going nowhere
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