Not sure what isn't clear?? Brokers who are trying to win ECM...

Not sure what isn't clear??

Brokers who are trying to win ECM business are more likely to write bullish analyst reports, particularly the smaller ones.

I know Canaccord and the team well and have met their analysts, brokers etc a lot. They are a small cap broker that's for sure...!!! I won't comment on your assertion!!

To come to a $4.60 valuation, they will have had to make numerous very large assumptions, which are always difficult to defend.