Subject: Re: ADT.
I guess the biggest objection is that the firm isn't growing. Top line revenue flat for 6+ years, rising revenue per share because of buybacks only enough to compensate for inflation.

That being said, the price is pretty reasonable. They seem to have traded at an average about 4 times cash flow per share (cheap cash cow territory), and that's about 60% above the current price.

But without a revaluation, a non-growing cash cow delivers you only its dividend yield. Around 3.4% at the current quote.

Some forecasts are rosy. But aren't they always?

Jim