I need some help here with some numbers pls.According to Comsec,...

I need some help here with some numbers pls.

According to Comsec, Leightons was trading on a p/e of 20 at the time of the trading halt. Is this correct?

The commentary is saying that LEI was worth the high p/e due to their ability to manage risk. IMO, this is now no longer valid.

So if LEI is now worth a p/e of, say, 15, that represents a s/p of approx $21.75. Is that too high considering the profit downgrade?

If LEI is now worth a p/e of say 10, then the sp is now $14.50.

Is that possible? I do not know, and yes, the capital raising price will provide some support, but lot's of shares have fallen below their capital raising price for a long period of time (think CSL and WPL - both companies are well managed and their management is held in high regard).

Do not get me wrong, LEI is a company in a good position, it is exposed to infrastructure, which is a good segment to be in. I have LEI on my watchlist, but I feel that the sp may overshoot to have a 1 in front of it.

Opinions pls

HT1