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Prosperity Bancshares Inc. Message Board

  • elena1967 elena1967 Mar 4, 1998 10:25 AM Flag

    Stock Price Increase

    I do not see any news coming out. Is something going on?

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    • If I were to guess, I'd attribute it mostly to Oppenheimer's upgrade yesterday.

      That upgrade came at an opportune time for the stock. Money Managers are seeing a U.S. market that has rebounded, people are
      concerned regarding valuations, and the market has been sideways recently with several sectors (e.g., techs, oils) more volatile than
      usual. Money is again looking abroad for better returns, but is still scared of Asia. Recall that many people are predicting Latin
      American stocks will have a particularly good year this year. The Oppenheimer upgrade refreshes people's memories about the several
      recent upgrades over the last few months. People revisiting the stock may also recall the bit of press that PB has been getting for
      a change. And, most importantly, renewed attention will remind people that PB, once again, had an outstanding 4th quarter and
      year, exceeding expectations. And even if Brazil remains flat, PB is poised for another good year. If Brazil shakes itself out,
      watch out...

      Of course, I could be way off base.

51.50-0.17(-0.33%)May 23 4:02 PMEDT