When we look at a company like MOV trading at 4x EV/EBITDA on a FY’10 basis and 2.4x EV/EBITDA on FY’11 basis, based on our FY’11 projections (at current share price levels), we can’t stop wondering if MOV is back from the pits of $4 or is this just a head fake by MOV? We at TDR believe that this is not a head fake. To read more of the MOV note, please open the link below...
http://www.dailyretailer.com/?p=433