Morning star report Great tool for doing research with, but should be taken lightly. Most of there research is based on backwards looking data and in no way reflects on future performance. So much information goes into those reports it's ridiculous, but incite full. Not sure how far back they needed to go to get sufficient data to come up with a "fair value", but it could be months, even years of compiled data for all we know. Way to complex to get into, but basically it's not a crystal ball and should not be used as a accurate measure stick. Like it says "fair value" based on past data. It's the future I'll be betting on. Not a expert on this stuff, so do some of your own DD. Stay on target, this will pan out. $$$$$