CCL is a high quality business/franchise with strong market share. so often tends to look expensive relative to its growth prospects and always trades at a premium. After its current pullback the stock is now trading below 16x FY11E PER and 16x is often a base level val for the CCL.
Given the potential of Indo and the current short term weather-related dip now looks like a good time to buy.
we could test $10.50 if the BOTS take hold
CCL Price at posting:
$10.90 Sentiment: Buy Disclosure: Held