What's interesting is Canaccord's valuation in which they allocate a PE 0f 45x on FY17 assumptions to derive a $1.54 price target. That's a bit rich, I would've like to see them being a bit more conservative and perhaps value the business on lower multiples. If we apply their assumptions but halve the PE which is definitely more reasonable especially on FY17 (never mind FY16) then a true reflection of valuation is somewhere around 70c. I'm not surprised escrow shares are getting dumped
UBN Price at posting:
70.5¢ Sentiment: None Disclosure: Not Held
