In my July post we were looking at EPS of 22 based on management estimations at con call which seems unlikely to be met, we are probably looking at around 20 EPS now. Even at current price of 370 odd we are close to PE of 18, on this. Long term industry fundamentals and good management notwithstanding, from a margin of safety perspective I am not sure it deserves a PE greater than 15…
Disc - hold tracking position