I am a bit confused by the 13x PE that they state.
When I check Thomson-Reuters consensus, there is indeed a second broker added since 18/5/17, and they have a price target of $1.85 with EPS estimates of 12.0 cents for FY17 and 14.0 cents for FY18. That looks very much like Shaw and Partners, but 13x looks more like the PE that would apply at their target price (13 x 14 = 182), not at the current share price.
Could that be what they mean?
MCP Price at posting:
$1.15 Sentiment: None Disclosure: Held
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