No. of Recommendations: 10
They are now forecasting growth in book per share of 9.5%/year in the stretch [2021-2023] to [2026-2029], as well as earnings growth of 9.0%/year. They use 1.5 times book per share as their expected market valuation level (it used to be lower, I believe). They therefore have most recently had a price target of $525 to $640 per B share, still in a time frame with midpoint about four years from now. At the time of their last report dated May 31 the stock price was $413 per B, so they were forecasting annualized returns of 6-12%/year.
Maybe people are starting to notice? Conservatively valued, conservative balance sheet, and a prospect of ~9% (+/-) a year growth when treasuries are giving 4.2-4.5%. What's not to like!
SA
