I think you might be a little bit right. They certainly are...

I think you might be a little bit right. They certainly are trading at a very low number right now and I agree that IVF numbers will probably be "recovered" as well as any other section of the economy over time. The thing is that their track record over recent years has been ordinary. Their revenue, their margins and their profits have steadily reduced across the last three years. And they now have to spread their reducing fortune across a larger number of shares so it's a relatively uncomfortable base upon which to throw your hard earned, especially when there are probably quite a few opportunities for capital appreciation in the offering at the moment. The industry is struggling generally. Sometime back IVF numbers in Australia were improving by 5% or more per annum. These days the annual increase in cycles is closer to 1% or 2 %.
So, to answer your question I don't agree that there's nowhere to go but up from here. People, as a general rule, will come out the other side of this a little poorer than when they went in which could lead to one more unhappy report.
But I estimate that they will move up from here simply because the current price is so low and a little undervalued.