Citi recently issued a downgrade, reducing the target price to $2.05 from $3.13. Due to cost increases, they cut earnings estimates by 23% this year, in FY09 by 31% and in FY10 by 32%.
Given the strong first half and absence of any negative news, announcements or outlook statements, the downgrade looks very over-done to me.
trading at pe 7.6 , page-2
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