ACX Chart, page-633

@Braintot actually the independent analyst from Evans and Partners is pretty objective and conservative. Here is a quote from the same research analyst's latest update:

EARNINGS AND VALUATION IMPACT Our FY17e revenue and EBITDA is revised to the bottom end of guidance (-8% &- 37% respectively). Our medium term earnings err on the side of conservatism, with EBITDA -23-25% in FY18/19 on +16-18% revenue growth. Our valuation declines 17% to $5.28, as equity value resides in long term earnings and cash flow generation assuming operating leverage improves in line with scale.

You will see that $5.38 is a current valuation, not a target price, and is based on very conservative metrics.

Personally, I think he is way too low on both the forward revenue and EBITDA projections

Imv, the shorters were very active last Monday with 2 million new gross shorts, with heavy short selling designed to artificially force down the sp, triggering stop losses and margin calls and generally creating panic.

Typical short brigade sp manipulation. FY 17 results only 2 weeks away now, so we will soon see more detail.

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This post is based on my own research and is not investment advice. When making investment decisions, always DYOR.