Stock price when the opinion was issued
This is really a valuation pick within a space that had come off since January. The numbers in January were fantastic. It had really accelerated from October then had a big fall this winter. A big move for a utility company. Has a really nice upside from a technical basis. Risk/reward is really good. If it broke down 5%-6%, then he would back out.
This was a $90 company back in 2008, way above its model price. It has had 6 years of down markets. It is now at its BV. These utilities have come down a long, long way. His model price is $31.