Well, we will show the market exceptional growth rates in 2012 and 2013. That's the main reason why I think we will have a P/E > 4 by then. A P/E of 4 would be an insult when listed in Stockholm and in the US.
If management does not execute their business plan, or makes big mistakes (like uplisting to Nasdaq first) then it's going to be a different story of course. But I'm not counting on that.
I have to say, $6 sounds good to me. And I don't care much either way because I can always buy more in the coming years if one of my other stocks does well. But it's not the right way to look at it.
We should have a P/E of 10 by then IMO, and it would still be massively undervalued. The spin-offs and dividends will give us a P/E of 20 or 30 IMO.
P/E is actually about ROI. And a P/E of 4 is exceptionally cheap for a company with this growth rate. That's what PEG = 0.02 is trying to tell us.