michael feller rates m2 one of dozen buys, page-14

Hi BB,

I share your sentiment, however much good news has already been accepted by HC readers and we await final year results. In the mean time the share price declines given the background environment. However with MTU having already predicted a great end year and no market update to the contrary it's all looking good. MTU also has a habit of under promising and over delivering. So come end year announcement I expect a significant re rate and further upgrade for FY 2012.

I see at least 475 mil revenue and a full year dividend of 15cents +

Again however the market will at some stage begin to discount M2 post re rate and not recognize the history and the ongoing highly probable future.

SD