First Assoc report!This report out this morning, which raised their target price to $27, had the following EPS projections (CDN$);
FY2003 $1.21
FY2004 $1.35
FY2005 $2.69
It seems some people on the Yahoo board have a problem in thinking that the estimate for FY2005 is too conservative but nobody even mentioned the FY2004 estimate. How baffling is that? While I tend to think that the FY2005 estimate is a bit on the conservative side, I certainly would have no problem with it. It is very realistic allowing some margin for error & is in fact very close to that of my own. The one I do not understand is FY2004 of $1.35. This same analyst thinks that the company will do $0.44 in Q3 of this year but only $1.35 all of next year. Does he not think that NB will be running & generating revenue & earnings during any of FY2004? Does he not expect that the NB asset will be amortized? Does he expect a lot of expenses to occur that will drag down the earnings next year? He does not seem to provide any explanation. What gives????
As for the split discussion......what a ridiculous waste of time...Cheers!!!