Been hammered this past month, unjustified if you read the IMS 13/10 and do not forget the Panmure BUY with target 364!

Brokers concensus figures for forward P/E is a very cheap 13.9 for a World leading tech stock.

Far too cheap.

SDL PLC

FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Panmure Gordon
14-05-10 BUY 31.80 29.90 4.00 34.80 32.20 5.00

Investec Securities
13-05-10 BUY 32.69 29.91 4.00 36.19 33.11 4.50

KBC Peel Hunt Ltd
12-05-10 HOLD 32.00 30.09 4.00 35.58 33.45 5.00

Singer Capital Markets Ltd
10-05-10 CORP 32.30 30.00 4.00 35.60 32.60 4.20

Altium Securities
31-03-10 BUY 33.80 31.60 5.00 38.20 35.80 5.60

Fairfax IS
04-03-10 BUY 32.70 31.80 4.00 34.80 33.80 4.30

Canaccord Adams [R]
22-01-10 BUY 32.50 30.70 36.70 34.60

Execution Noble [R]
19-01-10 NEUT 31.70 29.50 35.10 32.70

2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 32.41 29.98 4.00 35.42 33.22 4.72
1 Month Change -0.01 0.01 0.00 0.01 -0.02 -0.11
3 Month Change -0.06 0.04 4.00 -1.21 -0.59 4.72


GROWTH
2009 (A) 2010 (E) 2011 (E)

Norm. EPS 21.55% 31.55% 10.81%
DPS % % 18.00%

INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)

EBITDA 31.37m 34.41m 37.99m

EBIT 23.58m 25.78m 28.45m

Dividend Yield % 0.86% 1.02%

Dividend Cover x 7.50x 7.04x

PER 20.36x 15.48x 13.97x

PEG 0.94f 0.49f 1.29f

Net Asset Value PS 43.60p p p

Hoping for a bounce here now as the SP is on the very floor and support of the uptrend channel. Should See TAers coming into Buy.

Broker projections are very bullish......

Date Broker name New Price Old price target New price target Broker change

07-May-10 Panmure Gordon Buy 435.00p 512.00p - Reiteration

01-Mar-10 Canaccord Adams Buy 463.00p 560.00p - Reiteration

A 512p and a 560p SP target.

Completion of disposal
8 March 2017, Maidenhead, U.K. - SDL plc ("SDL", "Group" or the "Company"; LSE: SDL), the global innovator in language translation technology, services and content management, is pleased to announce the completion of its disposal of Fredhopper BV and its subsidiaries (together "Fredhopper") to ATTRAQT Group plc ("ATTRAQT").

Following ATTRAQT's completion of a firm placing and open offer to raise £27.8m, and subsequent re-admission to trading on AIM of its ordinary shares, ATTRAQT has achieved all outstanding closing conditions and consequently, SDL has today completed the disposal of Fredhopper.

Numis today upgrades its investment rating on SDL PLC (LON:SDL) to add (from hold) and raised its price target to 578p (from 540p).