We are exiting a position in a stock that has really befuddled me. I honestly don't understand the huge reaction and find the upside to be limited. On the flip side, we are adding an industrial that is in CG/B. I spoke to the CFO yesterday and reconfirmed my understanding of the risks and opportunities. While the stock has slightly below-average return to my target (about 35%), I feel like my target may in fact be conservative. I was going to marginally increase the target of the stock we are selling. At the current price, the upside is less than 20% and it has reached the point of being extremely overbought.
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April 21, 2011
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