Post by Paul Hill

#SN Love the stock, hate the price, is a euphemism used by many value-orientated #GARP investors like myself. Similarly knee, wound care & hip replacement medical devices firm, Smith & Nephew B.V. , is a stock I'd like to buy but at lower levels. So at what price? Well, assuming we get back to normal (re elective procedures post #CV19) sometime next year, then I calculate #SN's fair value to be around $16.50/share (or £13.30 at £:$ 1.24), or 15x 2021 EV/EBIT (est $1.10bn vs $740m 2020). Thus, factoring in say a 25% margin of safety, my theoretical entry price would be anywhere below $13.20 (or £10.60). #stocks #ftse #ftse100 #equities #wallstreet