Dont I love this...Supply over 1million, demand 200,000...I've changed my targets not 9.50 but 8.50 and below...

My wishes too... holding my buy orders till ex-div

This is sooooo true.. I started trading a while ago but its been long since stocks offered so much value..

For example KK..
1. Forward PER= 4.5
2. NAV= approx. 1
3. Forward Dividend yield= 9.6%
4. Price/sales ratio= 0.12

By using discounted future value analyis This is disgustingly cheap for any stock let alone a gem like kenol..

It occured to me today that the NSE values KK & SCAN similarly @15B* market cap. Surely...??

I have reviewed my outlook of KK (based on my very pedestrian thinking).
In segment reporting, the revenue is divided thus:
Kenya Inland - 33.8M (31%)
Kenya other – 49.4M (46%)
EAC – 14.6M (14%)
Other subs – 10.5 (10%)
Total – 108M

I stand corrected, but am assuming Kenya inland are the retail outlets, while Kenya other is aviation, lubes etc.

I am convinced that the Kenya inland that accounts for 31% of revenue is either breaking even or making a loss on the basis of price controls and the discounts they give on Tuesdays, Fridays and Sundays. I will give the benefit of doubt and assume they are breaking even, therefore the earnings are just maintaining costs. On the basis of this argument, I will discount the eps of 1.21 (2010) by 31% for a revised eps of ksh 0.84.

If the market valued the performance of eps ksh 1.21 at ksh 12, it follows that the same market would have valued an eps of 0.84 at ksh 8.28.

It is agreed that the spectacular H1 results lifted the market valuation only by the value of the dividend, it then follows that ex div will be ksh 8.28. I am therefore revising my target price for repurchase of the stock at 8.30 from ksh 9.80.