A write up on Iomega made it to the "Aggressive Growth" commentary page on Zacks today. They make the point that this company has good fundamentals and their new REV product line is gaining popularity.
More research at Yahoo finance yielded two more articles here and here about the company. I don't know if this company is so undervalued that it would warrant a $7.00 price target. Still, a company with good fundamentals and a growing product line at this price may make them a buyout candidate.