Check this out.
http://www.dailyreckoning.com.au/research/e9aah503.html

Don't miss out on the best fuel cell investment potential, as per the analysts this is AFC Energy.

Shares in issue 150,872,854
Share price 19.25p
Valuation 29,043,024


Hoodless Brennan said last Friday afteroon - "We maintain our SPECULATIVE BUY and still see AFC as more valuable than Ceres or CFCL."

http://www.proactiveinvestors.co.uk/columns/hb_markets/18645/hb-markets-daily-smallcap-newsflash-including-afc-energy-brammer-craneware-tanfield-and-others-18645.html

CFCL is valued today at 92.7m.

Ceres is valued today at 53.9m.


So Hoodless Brennan see AFC as more valuable than the 92.7m that CFCL is currently valued at.

92,700,000 divided by AFC shares in issue of 150,872,854 would give AFC a share price of 61.44 pence.

To get to 61.44 pence from it's current 19.25 pence, the share price would have to rise 235%.


Hoodless Brennan said "more valuable", but they did not say how much more valuable, it could be they think AFC is a lot more valuable, perhaps in line with the Allenby NPV(Net PRESENT Value) of 137 pence.

http://www.afcenergy.com/investors/analyst-reports/

To get to 137 pence from it's current 19.25 pence, the share price would have to rise 612%.


So the professional analysts see a fair and realistic valuation for AFC, as at least 235% up to 612% above the current valuation.

topanalyst,

I guess a lot depends on your assessment of the analysts at Hoodless Brennan!

I'm not sure "professional" would be the first word that sprung to my mind!

Heavy trading (for CFU) on announcement of new order for BlueGen units.

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