...and that's contrary to broker reports that are often...

...and that's contrary to broker reports that are often undertaken by brokers raising equity for that firm or otherwise trying to be "sensitive" with their reports so management will continue to meet with them?

having said that, they provide a lot of the data gathering activities for you but up to you to interpret and question and assumptions they make and consider any substantial issues the report has neglected. This thread should be focusing much more on this.

The report is useful for management, gives them something that can at least entice investors to consider this a cheap stock and then do their own due diligence.