One co I see going well past 10 x in the M/L term is Sydney based micro Biotec Cellmid (CDY).
A standout because:
1. it's just become cash flow positive (drastically reducing cap raising risks of other micro's)
2. has the security of multiple diverse revenue streams to underpin it's current SP (On DCF & crude PE valuations it's v cheap based on d2d operations) including perpetual income and high growth unique products at the start of the s curve
3. holds multibag valuation based on current operations alone
4. A grade management - v experienced, continually hitting targets and constant upside surprises
5. has multiple interests coming to fruition in the pipeline that can each dwarf 10 bags
