All of these reports are a joke.
The MO for these are.
Say a whole lot of superficial stuff about the business.
Create mathematical equations that make such silly assumptions that they have no basis in reality.
THEN end up with a target share price about 30-80% above the current share price.
If this increases to 1.00, watch the 'expected' valuation somehow magically increase, because of 'new data'.
Moelis Report Projections, page-18
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