Today - Credit Suisse says Q4 at risk...seriously?
While most on this board know I am not a super bull, I find the Christian Buss of CS' underperform analysis opposite of everything else (on street insider). He says declines of visits to UGG web properties, yet UGGS were in the top 5 of black Friday searches, and he really provides nothing more to consider other than a $50 price tag. I guess come next earnings he will either look like a buffoon or a genius. I bet on the former.
the blurb that i read said he was reiterating his underperform rating… at what point did he put that rating out there? when the stock was in the 70s, 60s, 50s, 40s, 30s? that in and of itself would be telling. i think he really missed the boat ride up and regrets his bad advice. his prediction of all the analysts has been the lowest one out there and has been at that level for a while. this is not a new prediction. seems as though he was looking for something to justify his poor prognostications….
not a whole lot of substance in the analysis either…..
personally, really seems like an effort to get out of a bad position… and sour grapes...
That I have no idea on, but I thought I remembered CS putting out an advisory just before last earnings with the same price tag and that started a slide back to the 50s after multiple price target increases and a ride to the high 60s. Then earnings came out and it took off.
It also makes me wonder if CS or an affiliate did not put on the massive options trade last month that needs the stock to remain under 87.30 (its breaking point), and would prefer it to close in the 85 range by 21 Dec. If so, this looks like the perfect setup to slow momentum.
Like I said, not the super bull many are here, but I see the company moving up this Q. Did not see too many uggs yesterday in NYC, even in & around Macys, but the weather was only cold and not like it is here in NY today. I love this stock for its covered call premiums - weeklies return 2-3% near the money, so for me it is a weekly free mortgage payment with little risk.