After down 8%, P/E still 28, too expensive, page-35

I don't usually pay much attention to brokers' recommendations but Ord Minnett have produced a compelling case for their HSN buy recommendation the upshot of which is: "We believe short term noise, like currency volatility, or investors losing faith in the M&A opportunity, creates
fantastic long term entry points. Reiterate the BUY." (my emphasis). I'm expecting a  strong bounce back over the next few months, and a resumption of the steady long term organic and m & a growth. IMO this is a great time to buy more HSN. GLTAH.