Since my post in July I haven't paid much attention to ESV so I apologise for the delayed response. Byron08, in response to your question of what target it will reach and in what timeframe? Yes, the big $ question. I stick to my belief from my posting in February when ESV was .70 cents that ESV would be rated to > $1 within a few months, and that ultimately it's real value was upwards of $1.20. At present levels, I absolutely believe that ESV is undervalued. Why? The 2005 french acquisition sucked in allot of working capital and I feel that the market struggles to understand their business model. With cashflow generation and a better understanding of their growth position, it's only a matter of time before ESV is re rated. I very conservatively value the stock at $1.25, and I certainy won't be cashing in until the share price is greater than that. When will it reach that price which is now not far away? Very soon I suspect. More announcements from the company will be required to install confidence in their proposition. The share price has stabilised over the past couple of months over $1, and I'd predict that the next upwards surge is immenent. 2008 revenue should be in the vicinity of 175m, so everything looks positive. It's just a matter of time. Patience and you will be rewarded.
All the best.
ESV Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
