What is our current fair value?

I've always been a big fan of CKF and first bought in at $5.50 in mid 2017 before participating in the SPP that funded the Netherlands expansion so my average price is in the low 5s. I've always thought of it as one I'd love to buy more of but just never been able to justify paying such a high price for the shares on a PE basis. Even now we're still looking at paying 23 times earnings whereas I think a quality company like this one with good growth prospects should probably sit at about 20 which would bring us down to $8.50 as a valuation. Bell Direct has a predicted a 20 percent growth in earnings for the next financial year which would then take us to a forward looking PE of 17 at my $8.50 fair value. In terms of the outlook for the business I think it's still pretty sound in an inflationary environment. KFC has the brand strength to pass along some cost increases and the other fast food businesses are likely to be hit just as hard so it won't put us at a disadvantage unless chicken is effected more than beef. Taco Bell as a growth prospect is a relative unknown to me so I'm not really sure how to value that one. What do you guys think?