tattersalls value

Don't be fooled by the outrageous valuations being placed on TTS by blood sucking broking houses. The chances of seeing 2.90 let alone 2.40 are about as remote as John Howard opening the batting for the Aussies at Lords next week. I think this push down is an attempt to shakeout some of the George Adams beneficiaries. Remember that there was an entity offering the beneficiaries 3.45 a share and they only got back less than 1% acceptances. I think many would be rueing the lost opportunity to have sold partial/whole holdings at 3.60 and may be inclined to now sell at 3.20 to 3.30. Here's hoping they sell it down to $3. I think this would be the absolute bottom.
At 3.00 TTS would be trading at FY06 PE ratio of 16.30 and a dividend yield of 5.00% and there are brokers valuing TTS sub $2. One must question their motives.