ODP is a great company, BUT there is a limit to expansion of the store concept (at least in the U.S.). My guess is that can only expand at the current rate for another 3 to 4 years. Also, as the store base matures, same store sales increases will flatten out as they have begun to slightly above the inflation rate. Also, the economy is in boom mode.
Put it all together, what have you got? Maybe 15% growth for about four years and then question marks. This growth rate takes them to an EPS of around $1.75 in 4 years and a reasonable multiple at that time might be 15. So four year target: 1.75 x 15 = $26.25. Guess what -- 23.50 / (1.10^4) = $17.92.
Hence, an $18 per share value looks pretty reasonable for this stock if a fair return is 10% per year. Current stock price is $16.50 or so. If you want a little "margin of safety" and don't like buying into negative price momentum, you might sit back and buy in if the stock sinks below $15. If I held the stock, however, I would hold on.