Quote:
Originally Posted by Babs_O
From the Q1 result just released Skyebank has been given both a short and long term buy recommendation by IBTC researchers. They forecast a short term price of 20.9 (22% appreciation) and long term price of 26.12 (51% appreciation).
Factor in the effect of new funds injection in a 1 to 2 year window Skyebank should do more than UBA at current market prices.
For ver short term traders this info is useless as they have more time to watch the markets and cycle-in and out. But for those not blessed with such time / expertise this may be a good time to load Skyebank both on the floor and in the IPO.
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I find it hard to agree with you here.
Based on provision for 25% oversubscription, the forward PE of Skye Bank based on the results announced today is around 21. I can make adjustments when I see the projected full year PAT for 2007/2008 in the prospectus.
However, the forward PE of UBA is currently around 16. With only 11.5B shares, I will expect dividends per share of at least N2 per share (I can't see Oceanic performing the same feat with over 20B shares outstanding) from UBA and bonus issue is looking more likely.