About $7.92 is the right price for BAL until it shows some new form in terms of the success of its newfound strategy.
Under this is a discount and over this is a premium. Even with a 12 months TSR incentive of over $23 as a very big stretch target for the Executives.
Whether they get SAMR approval will be part of that strategy and it will propel the price north but for now this is it, $7.92. This equates to roughly an EV of around $900m and a P/E of 12.5.
Market forces may push this around somewhat as is happening at the moment and then there is the friendly ghost banks (i.e. shorters) to contend with as well so some short term trading windows may come and go but I reckon this is it for the mid-term.
About $7.92 is the right price for BAL until it shows some new...
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