I have to agree with you Wipper, that will be the route for...

I have to agree with you Wipper, that will be the route for improved profitability for CEY (if indeed it isnt a takeover target as some suggest). CEY is as solid a company as you can get, but at $4.00 its priced at a PE of 20-25 (based on average forecasts I've seen by analysts on Commsec & IG for 09/10 & 10/11 earnings which is a much shorter term outlook than 2013/14) which is on the high side (short term) unless a takeover premium is factored in.