conservative valuation = $19.60-$20.80fleet q4 exit run rate of $1.20eps for 2017. 2017 growth; 8-10%organic growth, 3%share buyback/dividend-sept. announcement, 4% tuck-in acquisitions. peg ratio of<1=$1.20 x 14 multiple =$16.80 15 x =$18.00 new commercial finance company; using a balance sheet valuation of $3.30 will probably trade at a discount until market feels more comfortable. $3.30 x 85%= $2.80 or $0.48eps x 8 multiple= $3.84 x="" 14="" multiple="$16.80" 15="" x="$18.00" new="" commercial="" finance="" company;="" using="" a="" balance="" sheet="" valuation="" of="" $3.30="" will="" probably="" trade="" at="" a="" discount="" until="" market="" feels="" more="" comfortable.="" $3.30="" x="" 85%="$2.80" or="" $0.48eps="" x="" 8="" multiple="">