"SKE used to trade at multiples of PRG not at a discount ."
SKE is still at a premium to PRG (circa 30% premium), if you adjust for the differing levels of gearing in the two companies.
Anyone hoping for much more upside from SKE is effectively hoping for PRG board to offer a premium on top of an existing premium.
I'm not saying it will never happen; it could. But it would require the PRG board to behave in a somewhat undisciplined manner, and I'm not sure I like the invest on the basis of that sort of likelihood.
SKE Price at posting:
$1.55 Sentiment: Hold Disclosure: Held