as at Dec'10 ... NTA = $1.23 Gearing = 20.7% EPS for FY10 should...

as at Dec'10 ...

NTA = $1.23
Gearing = 20.7%

EPS for FY10 should be in around 6 cents and is forecasted to increase to around 11 cents for FY11 which would value WYL at $1.60

Property revaluations on the upside will work in WYL favour + the Woolworths/Lowes agrement have not been accounted for in the $1.30 offer.

I cannot see WYL accepting the offer, my price target is $1.60


Joe