3 years ago, this company was valued at 4.2B with 260M in cash on had, no debt and a record high earnings of 199M for 2011. In the next 30 months, this company will likely have somewhere in the range of 600M in cash on hand, and record earnings once again as a result of increase in revenues and 40% UGG Pure integration. Keep in mind there are also 12% less shares than 3 years ago thanks to 221M being used to buyback stock.
So there you have it. You really think this company is worth just 3.24B in 30 months from now? Not a chance in $$$$.