Lets say they beat and their 2009 EPS goes to $2.00 share instead of $1.90. Thats still 16x PE. All of their peers are at 8-12. This pig is overvalued. No two ways about it. They dont deserve an 8 PE or below but they also dont deserve a 16x PE in this market.
Motors is still dead. Waterheaters will continue to do well, not great, but well. Stock should be at $25 IMO.