The analysis is only as useful as the assumptions used. No doubt...

The analysis is only as useful as the assumptions used. No doubt these guys will move their targets up by 6-7c reflecting the payout , but bare in mind 18 months ago they did analysis that didn't include any value for insurances that paid out 150n and assumed IO wouldn't fall to low 20s like the rest of the clowns and had a PT of 20c . A year later their PT target was double . My point is when I read Macbank and Citi analysis back then I rated it as valuable as the toilet paper I used to wipe my backside