RE:Morningstar fair valueSeems in line with Keystone Financial's assessment however I haven't seen or heard of what their updated "fair valuation" for VMD is. All I know is they stated $9.50 but that was at least 6 months ago and the company has grown about 22% over the past six months. By year end, the EBITDA run rate should be closing in on a $1 per share. With the US listing, I can easily see a 15 to 20x multiple placed on this stock so lots of room to run and the market seems to be recognizing this as the stock keeps moving higher but only trading at about 10 x the year end run rate of a $1 per share. Then we have the impact of competitive bidding (positive or negative??)