Latest news from The Motley Fool19 Apr 2013 22:05
Telecom Plus (LSE: TEP) has been a huge success in recent years, with its shares up more than 70% over the past 12 months alone -- and they have four-bagged over the past three years. Today the price hit yet another 52-week high, of 1,205p, and is down just a few pennies to 1,199p by mid-afternoon.
It's no real surprise that such an impressive growth share should be highly-valued, and current expectations for the year to March suggest a P/E of more than 30 -- and it will take two more years for forecasts to bring that down to 23. That seems pricey to me, but I've been wrong about Telecom Plus before and the rise has gone on long after I'd expected it to falter.