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The company's cash flow generation is also strong, Fletcher says, estimating the company will generate $40 billion of cash flow per year between 2011 and 2013.
It still has a healthy balance sheet and good cash flow generation.
As in 2013, profits and cash flow generation will be second-half weighted.
The board will continue to monitor the cash flow generation before taking a decision.
Imperial's ex-USA growth will be pedestrian; its cash flow generation anything but.
"This is based on OGX's virtually null cash flow generation and tight liquidity position".
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These are companies that have strong free-cash-flow generation and strong underlying franchise value.
Its stake, the rating agency said then, "gives NASDAQ little in terms of either synergistic opportunities or cash-flow generation".
They like Telmex's strong cash-flow generation and its decision to reduce capital expenditures, which they estimate will save the company $300 million next year.
"If you look at the cash-flow generation of the industry, the top 20 companies probably account for 90 percent," he said.
"There's this continuum: growth at all cost and cash-flow generation at all cost," Lin said.
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