Guidance is 0-1% growth versus 3-4% guidance previously.
Did a quick look at the financials and it's not great. I can see buying this in the mid 30s if you're a dividend player but it's still too expensive for me.
Top line is lower than 2012 as is free cash flow so I can't fathom how this rose to $70 recently. Just crazy multiple expansion for no reason.
It's dropping back to a reasonable price point now but I still peg fair value around $42(that's giving them a 2% growth rate which might be generous and using FCF averaged over the last 3 years which also might be generous).
Submitted March 21, 2018 at 08:57AM by timeinthemarket http://ift.tt/2HTzxhX
