If the current state of panic continues, there's a chance to get to that annualised NPAT.
If it does get three, then it's all about the market guessing what is recurring revenue versus what is temporarily. Sometimes the market does extrapolate current conditions forever into the future, but in its current state of fear, it's probably not going to be greedy in its assessment of the future.
It's quite possible that we get to half of your theoretical price at least, $2-3, if I allow myself to dream a bit....
Updated valuation, page-19
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