Kind of difficult to work out valuation floors given variance in...

Kind of difficult to work out valuation floors given variance in earnings expectations over the next few years. On Cannacord forecasts a $1.00 price implies ~12x FY18 EPS but on Moelis forecasts ~22x. Remember the harvest for FY17 is the biggest in tonnes of heartwood until FY22.

On charts, next support level is $1.37, then $1.25 then $1.10.

Of course this depends on the S&P500 getting saved by the Fed. If one believes the US economy is running close to full capacity and the prospect of a recession is getting closer, then a somewhat less than full targeted weighting in TFC may be appropriate for investors portfolios, as there will be the opportunity to pick up stock at a considerably lower price over the next few years.

And remember HC'ers, +90% of the value embedded in the TFC business is from revenues +5 years out....if Mr Market gets scared that makes TFC even more compelling