patersons broker update dated 26/05/09, page-5

I agree with most of what you are saying iamtheoracle..

I still have a PSL research note from 9 April 2008 when the stock was $0.72 and the target much higher (and of course the stock price fell in line with market following this).

PSL also did a placement at $0.95 in December 2007.

I think many brokers (PSL included) are now trying to set low targets on stocks and deliver higher returns for client portfolios (as opposed to the inverse) given the horrid events of the past 18 months.

No doubt in my mind this stock is worth north of $1 right now.