Profitsofcompanies in emergingmarkets 'are growingfasterthandeveloped markets, yet often still trade at a discount' based ontheirstronggrowthandreasonableP/Eratios, says Mr.
He notes that the stock continues to trade at a discount to its peers, such as Kroger (KR) and Safeway (SWY) based on p-e ratios and price-to-EBITDA (earnings before interest, taxes, depreciation and amortization) multiples.