Q: Hi Peter, in one of your answers you say that CSU is not cheap at 39x earnings and you would be comfortable owning it. Does that mean you would still buy it at today's price or would you wait for a chance to buy it at a cheaper price and do you think there is a possibility for a pull back. Thanks
5i Research Answer:
We would still be comfortable buying it for the long term. As a premium company, the stock rarely, if ever, gets 'cheap' on valuation. We just wanted to note that it is more expensive than most stocks, but deservedly so.