exactly...and I think BofA is way low on their projections. I'd be much happier with a 15x PE but to be honest with the rate of growth qcor should be at least 20x. We will see how the q2 earnings go and maybe get a peak into the back half of this year. qcor is set to sizzle. and as you state, conservatively should be at 15x 2013 earnings (now!).
what don't you understand ? that's their target range on the top over the next 6-12 months. clearly the analyst is not a big believer in QCOR story nor believes that the company is a great reward-to-risk story when he downgraded his opinion, he has laid out his thesis so its time to move on. not EVERYBODY is in love with QCOR which is OK