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CALIF COASTAL COMM Message Board

  • cinema90213 cinema90213 Mar 8, 2007 5:18 PM Flag

    *Analyst Upgrades are false*

    The new analyst Upgrade is false logic, pure hooey, and NOT from JP Morgan!! Read carefully!!

    UCLA recently warned of future quarter shortfalls on Profits and Revenues that will be adversely reflected on share price of <CALC> common stock. And I must concur.

    Several postings on this board incorrectly mention the upgrade by "JP Morgan." This is not only a mistake but a false hope. First off, the upgrade is by JMP Securities, a firm that does not know or specialize in the real estate market, NOT JP Morgan!! Further, the upgrade is simply based on the low PE ratio of CALC relative to the so-called estimate of value of their Bolsa Chica holdings.

    This upgrade is nonsense! The "value" of Bolsa Chica is only based on PAST COMPARABLES! This does not and will not apply to future sales and�

    The Brightwater development has slowed its construction pace because of the negative forecasts for Southern California real estate, especially in the $1.5 � 2.5 million range.

    As UCLA reported "SoCal SALES HAVE DECREASED DRAMATICALLY. Bad loans, which will translate into Foreclosures, have sky rocketed." And those coming foreclosures will take the average prices sharply down!!

    The Brightwater / Bolsa Chica develpment will likely be hard hit. There's been lots of speculative "flipping" in that price market and those bad loans will translate into downward pricings and buyer incentives. As UCLA said, "As such, CALC's next quarters are likely to show decreased Revenues and lower Profits. This will be reflected in share value.

    Sell now! Buy back later with "price averaging" strategies when the price is below $14 / share.

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