Predictability of MFT business ie great estimates of its forward earnings is a big plus ...Street estimates of this HY eps was $ 1.19 ...very close to $ 1.24 actuals ...similarly FY 24 estimates are $ 2.77 ...actuals maybe $ 2.85+ ...next year EPS forecasted is $ 3.26 and so on ...normally they are very open and transparent with their current and forward operations .
As per Market Screener last 5 years average PER is 25.1 ...more then last 10 years as they started growing faster as their network spread .
Now if one wants this superb quality company at 25 times forward then one can argue 25 times FY25 $ 3.26 + = $ 81 as yearly target .
I fully understand sentiment is poor and conditions are not ideal so maybe not looking as compelling VALUE to many when one can see other smaller companies like TRA etc doing reasonably well at much lower valuations ...but MFT has earned its stripes to get this market valuations ...after all many institutional investors pay hefty premiums for quality and corporate governance etc
https://www.marketscreener.com/quote...2059/finances/