New Target - $5, page-10

That would put MF's call as somewhere between my pessimistic and fair value FY rev figures. So I reckon they believe a SP of around $5.50 to $6.50

That's a fairly safe call to make IMO, maybe MF is trying to improve it's predictions?

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7	Column 8
1	Pessimistic Valuation
2	2017/18	Rev (mAUD)	Multiple	YTD	Annualised	Shares on Issue	10x Ann Rev	Share Price $
3	Q1	15	1.10	15	60	143	600	4.20
4	Q2	17	1.10	32	66	143	660	4.62
5	Q3	18	1.10	50	73	143	726	5.08
6	Q4	20	1.10	70	80	143	799	5.58
7	Year	70
8
9
10	Fair Valuation
11	2017/18	Rev (mAUD)	Multiple	YTD	Annualised	Shares on Issue	10x Ann Rev	Share Price $
12	Q1	15	1.33	15	60	143	600	4.20
13	Q2	20	1.33	35	80	143	798	5.58
14	Q3	27	1.33	61	106	143	1061	7.42
15	Q4	35	1.33	97	141	143	1412	9.87
16	Year	97
17
18
19	Optimistic Valuation
20	2017/18	Rev (mAUD)	Multiple	YTD	Annualised	Shares on Issue	10x Ann Rev	Share Price $
21	Q1	15	1.66	15	60	143	600	4.20
22	Q2	25	1.66	40	100	143	996	6.97
23	Q3	41	1.66	81	165	143	1653	11.56
24	Q4	69	1.66	150	274	143	2745	19.19
25	Year	150