I don't think the article was unfair but if a jurno is going to say that the shareprice is overvalued then he must have an idea in his mind as to what the shares are worth, otherwise how can he say they are overvalued ? I would agree that putting a value on the company at this point is very difficult as you are really looking into the future, but that's the case with most companies.
Another jurno a few weeks ago speculated that PEB could be in talks with Harvard University which lead the company having to make a NZX announcement that this was not the case.