Their DCF returned a value of 80 cents... this would seem to be...

Their DCF returned a value of 80 cents... this would seem to be based on a deeply pessimistic estimation of future cash flows, given bond yields up to 15 years are all < 3%. (Bond yields are generally used in the calculation to represent a risk free rate... though Bonds do carry their own type of risk) I've recently performed this calculation myself based on what i consider a conservative scenario (i.e. share price fails to recover for next 10 years therefore company can only grow at rate it has in last two years). This returned a per share DPV of approx $1.14 (DPV = discounted present value).

A different scenario where the shareprice recovers will allow the company to go back on the acquisition warpath. For this to make sense the shareprice would need to be above $1.14... the further above the better... to allow the company to issue equity to fund acquisitions and get more value than it gives away. This should dramatically increase the future income (ironically increasing the DPV and therefore raising the bar higher on when the firm should use equity to fund acquisitions)

This is all predictive and should be taken with a grain of salt... and should not be taken as advice. If you do your own modelling you will almost certainly get different numbers as it all depends on the assumptions you make.