Bearing in mind the review of SPC intangibles and possible...

Bearing in mind the review of SPC intangibles and possible further deterioration in earnings due to the price war, my earlier comment was that the company is probably still sitting on bad news that may well come out in more detail in its next earnings update.

A price in the low to mid $11 is not sounding as outrageous now but I don't think anyone's particularly trying to talk CCL down. It is an iconic blue chip company with a monopoly of sorts on soft drink in Australia. The trading issues it has been left to deal with however have hung around and simply stymied its recovery unfortunately after it had earlier reached heady levels of $15. The earlier recovery from $12 back up to $13 had been looking good and I willingly went along for the ride until CCL brought out another downgrade and tanked the sp back to $12!

It's tough to find many blue chips like this at close to their year lows, and ones that are currently cum-dividend.
It is true also that CCL may already be presenting a good long term buying opportunity given its existing sp decline.

I still think CCL is good value, just at a lower sp to peg the high p/e back and compensate for its trading/earnings issues.