You should never rely on any broker report period.
The way I see it, the difference between the DJC valuation and the actual share price is basically to do with the EBITDA multiple that DJC are using to get there target price, and this multiple is probably based on a high growth/growing company. Where as the market is currently not pricing the company based on a high growth/growing company, the market is pricing the company as a speculative business with a reducing earnings profile, hence the significant discount.
If CM8 indeed, start to turn around and start showing some solid revenue/earnings growth, their is no reason the DJC price target can't be met in 12-24 months.
CM8 Price at posting:
14.5¢ Sentiment: None Disclosure: Not Held
