Undervalued?

According to Comsec, currently sitting on a PE of 7.5, and dividend yield of over 6% (no franking this time around).
It has multiple growth strategies - with a push into SME business, & a new operation in the USA.
It has the highest customer customer satisfaction of any of the energy providers, but doesn't carry the dead weight of coal based electricity generation assets (Oakey is gas, and is small).
Comsec research has a $2.40 price target on it, so what is it that the market knows, that I am not seeing?

https://content.markitcdn.com/resea...sbCwiZmlkIjoiMjE5MSIsImR0IjoiMTA1Njg3NCJ9.pdf