CCRT Estimates Raised by Bear Stearn's

BSC raised EPS estimates by about 10% to $4.71 and $5.70 for 07 and 08. With the stock at $32, CCRT trades at an incredible 7 times this year and 5.6 times next year's estimates. The stock typically trades at 11 to 12 times earnings. Yeah, it's very cheap. If you just put a 10 multiple on the stock and they earn $4.70, you have a $47 stock within 12 months or 47% upside from current levels. Tom Brown looks to be absolutely right in his analysis several months ago....this company has the power to increase earnings significantly throughout the credit cycle because of excess liquidity and superior management.

It's also worth mentioning that CCRT gained valuable infrastructure with the Monument deal....Barclaycard's collections and customer service capabilities. This diversifies their operations and will allow them to take advantage of additional opportunities in the U.K.