Dear Bigroddy
The JBM deal was completed on a PE of 18ish on 2007 earnings and almost 14 for 2008 earnings.
Even if you apply the lower PE you are looking at around $10 for MRE purely on the 2007 earnings outlook.
Southern Cross Equities recently raised there MRE target to $8.
You should do fine.
Regards EOS
takeover inevitable, page-11
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