see screenshot. broker report has zero credibility in my view. how can net debt add to the valuation?
They've ascribed 60cents per share on the debt. Debt is supposed to be a liability. Its supposed to be -60cents not +60 cents. The broker/analyst cant do basic math. The value is a lot lower. If it was labelled Net cash then yes, it would be positive.
Initiating Coverage - Shaws, page-4
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