I think when MORGAN and CITY made their target valuation, its...

I think when MORGAN and CITY made their target valuation, its already factored in the possibility of 6 months no revenue, basically assume EPS will drop to around $0.4~$0.6 etc for the next year assuming the travel ban has gradually/conditionally lifted worldwide.

It is valued based on the potential (which FLT certainly able), not on the immediate revenue.

It has the ability to reach EPS$1.4 in two years time or sp @ $40, consider this pandemic has hurt this travel industry, but it also killed many of the small competitors and hence give the survivor a rare opportunity to quickly raise or maybe even grow bigger eg., diversify into the relevant industry because everything will remain cheap for a while.

Also, the market sentiment has towards the idea that the pandemic may be peaked or at least near its peak, and if this being confirmed, it means the market has bottomed, then time to buy or too late!!! IMO, at least the Dow suggests we have bottomed, time to rush.