Can you help us to follow your maths?
In my books the forward PE (based on average estimates for the next 3 years) is 9.9 and the backward PE (based on earnings since 2010) is 20.7.
forward CAGR (3 years forward, 4 years back) is 23.7.
Putting these data into the original Graham formula comes up with a target of nearly $40 (or $24 if I use Rogers more conservative formula);
Ah yes - and if you are a Slaten fan ... PEG is 0.42.
Must be a sell :p;