Q: Last week on BNN I thought Peter mentioned that PRL probably would revert to the lower $30's per share before resuming it's increase in share value. Is this a general thought among the 5iR staff?
5i Research Answer:
We would not phrase it exactly like that. The stock has been so strong that 'some consolidation' can be expected after such big gains. It was 'low 30s' less than a month ago. We are not really predicting prices here but markets will not go straight up, though they seem like they are right now. It is 16X earnings right now.