Surely the wide moat that Morningstar gives to AIA relates to it's airport status in Auckland where it does have a monopoly, it doesn't really compete with other airports around the world.
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Hmm - average forward PE (3 years) is as far as I can see "just" 34.5 (not >50) ... but, you are right, still pretty dear, even if we take as well the predicted earnings CAGR of 5.7 into account (screwed up by this huge earnings peak in the last couple of years, hard to outgrow them fast ...).
So - I guess, the question is - will their earnings growth accelerate beyond the imagination of the typically optimistic analysts?
I guess its possible ... depends on how useful and busy all these breathing devices they recently sold really are in hospitals over the years to come. If they are used, they will make top dollars with consumables.
If not - then they probably just drop back into their long term growth curve, and in that case a bottom between $10 to $ 15 might well be a possibility.
I probably would not bet the farm on them growing faster than analysts predict and not on what long term hype might do to their share price.
Still - I think it is a company which belongs into any NZ long term investment portfolio ... so I used to keep my (still quite modest) parcel - and certainly ready to buy some more IF & WHEN they drop into the proposed band.
Yes think you on the money there BP....
it was a great trade and then a sell when the P/E went into space...
Gas has been the new ride...
Share price on fire today ….could be 20 bucks by end of day
" Fisher and Paykel, which sells 350 million respiratory masks a year, was given a boost with the announcement that Philips Respironics is recalling 17 million CPAP masks used by patients with sleep apnea."
Reason for it going up ...It needs more breaks like this to come back ...lol
https://www.fda.gov/medical-devices/...ets-may-affect
https://www.tipranks.com/news/blurbs...=mw_quote_news
Maybe time has come for tide to change ....finger crossed :D
17 Mil Masks are being recalled which will need immediate replacement ...at retail price of $ 250 that translates to over $ 4.5 Billion immediate business
As FPH is good with masks then machines ....I hope FPH will get good traction on its sagging post covid sales