RE: cayp... Cheers guys for all your posts and we are all on the same side.
I will take the more conservative position and base my work on book value (+ some credit for future npv/irr). Others can take the npv or irr, and in theory the mv should find itself somewhere in the middle. From there we should have a relative guage on what the oversold or overbought position should be.
Good luck to all.