Recent move up in price is due to Huntleys report coming out recommending at as pretty much a screaming buy. Current market cap is $140M, They value it at $220M using a conservative multiple of only 10. They also mention that a takeover in this case is usually done at around 2 times revenue. So with revenue at $150M a takeover could be at around $300M. the mention that the price is currently being capped as a big UK institution is selling. Expecting big re-rating at realise of FY 2007 results up to $1.10 then possibly much higher if takeover eventuates. Best to get on now before the capping stops.
ESV Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
