Looks like it. However, we should be aware that the immediate cause of today's rise is probably the fact that Daniel Stewart have chosen ACG as one of their 5 best 'high conviction' ideas for 2007 (the others are Betex, DFD, FDMG, and TAN). I hope they are right - I'm holding all of them except Betex. :-)
Edit: Oops, no, I'm not - just holding ACG, FDMG and TAN. FDMG looks cheap but it doesn't seem to be going anywhere. TAN has been a great performer, of course, and DS are forecasting 100% eps growth in 2007 for a PE of 11.