Well, in my books its not yet in the "steal" category, but I consider it as a fairly priced solid dividend earner with potential to grow.
I think the share price has more likely reached its new long term level (well, until fundamentals change - this is). Remember - while they paid a 20 cts dividend, their shares typically moved in the band between 200 to 230 (ignoring the peak after the Farmside merger). Now they have a lower dividend (and earnings) - and are moving in a proportionally lower share price band (151 ... 175?). Fair enough.
Don't see a lot of further downside risk to the share price given the good dividend yield, but not sure whether I expect in the short term huge increases either. Obviously - if & when their earnings increase after finally reaping the benefits from the farmside merger, the band is IMHO likely to rise again. However, I think we are talking in that regard years, not months.
For what it is worth - a total of one analysts on ft.com dared a 12 month prediction: 175cents; In the meantime in my view a good dividend share, worthwhile considering. DYOR;
Discl: holding;