Inclined to concur, Mucky.
I see similar fundies and business model to a couple of NZ aged care service providers - Ryman and Metlifecare - both of which languished for some time before taking off over the last 3 years.
Ryman's been a 5-bagger-plus for me, but now fully valued hence my interest in early-stage equivalents in Oz.
I'm accumulating on dips with long holding horizons in mind. Just look at the population structure by age to see the growth prospects in this industry and to me AVE appears a well managed business with sound fundamentals and an undervalued market cap. Its time will come...
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