RE:RE:Eight Capital: Sell rating and C$1.00 target for TrevaliTaken straight from the document, since you feel no interest in actually reading things:
"Recommendations: BUY: Total returns expected to be materially better than the overall market with higher return expectations needed for more risky securities. NEUTRAL: Total returns expected to be in line with the overall market. SELL: Total returns expected to be materially lower than the overall market. TENDER: The analyst recommends tendering shares to a formal tender offer. UNDER REVIEW: The analyst will place the rating and/or target price Under Review when there is a significant material event with further information pending; and/or when the analyst determines it is necessary to await adequate information that could potentially lead to a re-evaluation of the rating, target price or forecast; and/or when coverage of a particular security is transferred from one analyst to another to give the new analyst time to reconfirm the rating, target price or forecast"
"Our 12-month TP of C$1.00 is based on 0.6x our NAVPS (US$2.18/share), which now factors in a six-month delay of RP 2.0."
Since this is a summary report, they don't go into specifics on how they established the NAV of ~$195M, but I'm sure their analysis is rooted in some pretty specific numbers. If you really want to know, subscribe to their report and you can see the full calculation.
The Sell rating does not mean literally sell it right now. It simply means that they believe this stock will perform significantly worse than its peers.