BD Tigers, Bell Potter's valuation is what they think the stock will be worth in 12 months - which is a pretty risky exercise these days.
That said, we know BLY has been undersold, and that $0.20 doesn't reflect the value of the stock. Their valuation was $1.2 before the BLY update, and based on the uncertainty BLY has added in their prediction it has come down to $.80.
I also agree with fss - it is very hard to apply standard ratios or fundamental analysis in times like this as they are meaningless.
I don't know what the current P/E ratio is but I would think buying some, or averaging down, is fairly safe on a long term basis - which is what I did as I have kept the ones I bought at listing time ($1.85).
BLY Price at posting:
15.3¢ Sentiment: Buy Disclosure: Held