Stock price when the opinion was issued
Tied to the insatiable demand for band width. Over a 20 year period has about $1.2 billion worth of fiber in the ground, mostly in rural areas with governments being their largest customers. You are not paying for it as they have almost 60% of their market cap in networking capital, between cash and receivables, mostly cash. He is expecting a very large special dividend, possibly in the range of $0.50 a share as well as a continued buy back of the stock. Thinks $3 is pretty easy on the upside.
(A Top Pick Dec 27/13. Up 31.82%.) Has a unique business model, where they typically serve rural markets, and have done quite well. In the last year, they sold off their businesses in Singapore and in Spain, so have about $45 million in cash, so they have a lot of firepower to fund growth in other areas. Has been trimming this a little lately.