iQSTEL Inc (IQST)

[snow]

"However, its two closest comparables, Cogent and IDT, trade at a multiple of
10.5x EBITDA, which would suggest a $22 price target for IQST shares. One admitted flaw in our methodology is that
it includes the full consolidated EBITDA for each operating subsidiary, while most are not wholly owned. Based on the
implied $11.3 million to bring its stakes up to 100% (based on the original purchase prices), this would bring our price
target down to $14 or $18 based on the two close comps."