rarely posted on, page-50

I'm not convinced of the upside. Yet. Not sure if anyone here as an intrinsic value calculation that they can share? I think the downside is limited at the moment with the valuation quite modest, only potential short-term issue I see if less tourism demand in Australia and higher fuel prices, that could put some pressure on some of PTB's customers, but their base is highly diversified and global so not an overly material issue.

Could classify this as a moat stock with optionality around US market & leasing.

If the share price was say 15-20% lower, it would be a high conviction buy for me.