Aspen looking cheap?
Aspen (JSE code: APN) announces a acquisition in Latin America for US$290m on a price/sales of ±3x and PE of ±5x. This is a classic Stephen Saad sort of deal. Strong cash generation to pay down the debt.
After having gone quiet when the balance sheet case under serious pressure (with debt of ±R50billion) Aspen is back?
Chart looking good for a break higher.
Forward PE of ±12x is below 1 standard deviation over last twenty years and looking cheap.
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Simon Shares
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