No. of Recommendations: 8
Who knows if $101/share will turn out to be the bottom, but even at today's $120 share price, i.e. $26b market cap, with earnings of $2.6b, $2.4b and $2.4b in the previous 3 years, and probably about $2.1 or $2.2b in this really bad year for them, so about 12 times earnings, time is probably on the side of value investors, and it could well be that the weak hands have already sold and that time is now on our side.
Third quarter finishes in a few days, and so we should get the report in about 5 weeks or so. That might be another chance for testing that $101, we'll see soon. Hard to believe it was at $261 a year ago!
dtb
