The report is a summary report... and not an analyst report.....it does do a simple calculation to show that present market cap is less than a rudimentary valuation.

i would love to see a - target price - with a range upward based on various degrees of success.... investors need to be spoon fed and shown how grossly undervalued fnc really is.

this report falls short and need others on the bankwagon- byron - canaccord - would be good start.

let's see if the report has any effect - i presume No.