I was reading the Hartleys and Shaw Stcockbroking reports on CMR...

I was reading the Hartleys and Shaw Stcockbroking reports on CMR and the valuations they give are a lot higher than the current share price....with a collaterol rate of only 12.5% on Macquarie CFD's this would seem like a phenomenal opportunity...I know it is all very dependant on the progress of the current browns project and the delays have led to the depressed share price but still this seems like a great stock to be buying now...

This looks pretty straightforward...am I missing something here?