What is a good PE ratio?

Hmm, I'm curious...what exactly is considered a good PE ratio? I've heard different opinions about it, so I'm a bit confused. Some say a low PE ratio indicates a stock is undervalued, while others argue that a high PE ratio can be justified by strong growth prospects. But what's the general consensus? Is there a magic number or a range that investors should aim for? I'd really appreciate your insights on this matter.