A big plug for MUA from The Boat Fund in their latest report...

A big plug for MUA from The Boat Fund in their
latest report conservatively valuing MUA at $1.60:

Summary
MUA has been a core holding in the TBF Fund since its
IPO just under 2 years ago. The stock listed at 75 cents
and since then has traded between 80 cents to $1.20.
Over that time the earnings of the company have finally
caught up, and we now believe the current valuation of
the business is the most compelling it has ever been.
Based on analyst estimates MUA should report EPS of 6
cents this year growing to 8 cents in 2018 and 10 cents
in 2019. The stock last traded at 92 cents.

MUA’s larger capitalized peers are trading on 25-35x
multiples. To be conservative we apply a discount
to its listed peers multiples and value MUA at $1.60
based on CY2018 earnings forecasts. We expect
investors to gradually understand the business better
as the company builds on its impressive track record
of earnings growth as a listed company. Over time
investors will gain confidence and re-rate the stock to a
more appropriate multiple such a high quality business
deserves.

http://tbfinvest.com.au/fund-reports/