I haven't heard too much more out of the analysts. Whoever was selling below 11 in size needs to go back to trading school! We have a good low in now potentially rather than the quetionable double-bottom. I am assuming that their body language at the JPM conference wasn't bad, as the stock has recovered most of the drop. Again, while I will likely reduce my target somewhat, it won't be by more than 10%. I have been using 8.5X projected sales. I will likely drop it to 8 and use slightly lower projected 2013 sales. So, I am thinking 26 to 23.5-24. Maybe this is too aggressive - they sure need to have a decent Q1.
I am sorry I didn't have time this morning to share this, but here is the "oversold" levels:
- 10.5 -2.09
- 11 -1.88
- 11.5 -1.66
- 12 -1.44
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