Ann: Baillieu Holst releases Velpic Research Report, page-56

I personally feel it's good to see a conservative target.
It is still over 60% from the current price!
The main factor with Velpic and similar co.s is that targets
are largely affected by new contracts as they are achieved.

An inclusion of one or more bigger companies as clients and
Velpic could see 20c in a flash. Hence' the expansion of their
National sales team and strengthened management. This will
be the way Velpic gets it's product into a bigger market.