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Thursday, October 29, 2009 3:33:57 PM
They will wipe out shorters, squeezing them to $1.8 plus.. I think this run up could hit to $2.5 seriously.
Some ppl think that the credit crisis is goin to get worse, but I dun think so. Economy seems to be recovering as planned, banks credit charges are getting better,jobless rates are goin down.
Why run up to $2.5 this time?
ETFC has a potential to earn $800mln by 2012. That is EPS of $1, and AMTD is now trading at $20 as it has EPS of $1.
So ETFC with a potential to hit $20 in 2012, should be trading at a higher premium now. They have more than enough cash to weather the storm of the extra $1.6bln credit charge off that they have to endure for the next 2 years. So it is just right that ETFC be trading at $5.
A market CAP of $5bln is reasonable given that the 2 big ones like CHARLES and AMTD are trading at $12bln market cap. ETFC will be joining the likes of them, but they are big too as they have a bank unit which is making money soon.
The loans department will become more careful in future and they will earn quite a substantial bit from that.
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