Subject: Re: Thought exercise
Given the discussion about the bump in covid earnings I'd settled on the following.

I took last 5 years earnings per share to give an average of $8.80 grew these by 8% over the next 5 years(challenging environment) and because of this gave a slightly lower multiple of 18.

12.93 x 18 = 232 8.4% compounded over the next 5 years from where we are today.