Stock price when the opinion was issued
It is paying down debt at $200 million per year and is half-way through the process of paying off the total of $600 million. When debt is paid off and it is generating $200 million excess capital it can use this capital for dividends and share buybacks. As they approach this point we should see the stock price increase. It is worth about $450 million today. Buy 7 Hold 2 Sell 0
It has been on an aggressive debt pay-down schedule which should be completed by next December. This would mean transferring value from debt holders to equity holders. It should have additional improvements on the operational front. Buy 4 Hold 2 Sell 0
(Analysts’ price target is $3.67)