RIDING ALONG ON THE CRESTON WAVE

Just my opinion Markie7, but I think you're looking at a different company!

There hasn't been a trading statement : the most recent outlook was in the interims to 30/9. And in those interims CRE delivered almost 7p EPS for H1, almost half of two of the brokers' forecasts for the year with both acquisitions and the usually stronger H2 to kick in.

Also, the CEO noted that trading since H1 was "in line with the Board's expectations". Note the "Board's" expectations, not the market's - the Board's expectations are normally somewhat ahead of the market's expectations given the cautious nature of broker forecasts these days.

That might imply anything from 15p EPS to 18p EPS for the year about to end.

As I noted above, consensus forecast to 31/3/08 is 17.43p EPS. On an average sector P/E of say 17 that gives a target price of 301p over the next few months, i.e 50% upside for an ISAble stock.

It also leaves the 2007/8 P/E of 11.4 at the current 198p looking a little mean to say the least imo.