Brokers Valuation Reports, page-11

The disclaimer in this report is what I find most interesting to do with UBS does and does seek to do business with companies presented in this research. So the company is encouraging this analysis. This certainly presents the company's options to improve its recovery and grades in a favourable light.

Interesting to note also that this reports 2017e and 2018e ROIC (return on incremental capital) as 8% and 21% whereas the earlier report which seemed to trigger the shorting and price falls quoted RoE (return on equity) of 4% and 12% respectively. Can anyone explain the diff between ROIC and RoE?