The stock is ridiculously cheap and IMO these results will show...

The stock is ridiculously cheap and IMO these results will show that Goldman's very timely note (in the eye of the market storm) was a cynical move to shake the tree in order to accumulate a way-too-cheap SWM position. They don't make their money from a sell note designed to bring in 0.1% or lower commissions from funds and retail investors, acting on the note. They make the real money from proprietary trading positions, and you can be pretty sure that at the lower levels they were stocking up, to ride the share price back up in the knowledge that the stock's balance sheet woes are over, it is now growing returns again and will likely resume dividend payments soon (which will bring income funds and retail investors back to the stock).

My view, for what it's worth, is that post the results within a few days it will be closer to 60c than 40c. If they announce a resumption of dividends, 60c no problem. They will be making more than enough FCF to pay 5c, but will more likely target an annualised 2c, because they want to keep powder dry for M&A. Nonetheless, 1.5 to 2c would put a rocket under the share price. If the BVOD business were a standalone business it would be value at or above the current share price IMO. Too cheap