Since 11/7 Raymond James, GS, C, Macquire, have all downgraded ftr with an avg PT of 3.68, 3 sells one netral
What do they know. Obviously not about the impending short squeeze people here like to point to. Earnings is 2/21, sell into any strength before then to lighten up here. The earnings are all but guaranteed to be bad, and the stock might test 3.06 or set a new low in the 2.50-2.75 range. Even if the earnings are flat, to down slightly with every major brokerage now sitting on it, ftr will not shoot to more than 4.70, then trend back down. I am not saying short ftr here AT ALL. I am saying the smart move is to get on the side lines on any strength. You can always buy back after the earnings release, and before x div.
Short interest has held over 210 million since last April. So you just get a little rotating in and out. You also had some trigger buys to cover, and some stop losses. I Am out, and on the side line, but I like several people on this board. I am not short, no options nothing. Looking to get back in but not before earnings. What I see here is every major brokerage is saying sell except Nomura who maintains a buy 5.50, a Japanese brokerage house, so not too sure of their credibility. Regardless of the brokerages all piling on, and GS has cred, my opinion is based on ftr eps. trend. I think they miss, and with these added sell ratings, they will pile drive ftr on 2/21 if when they miss. I anticipate a slam down like we got last May when it hit 3.06. At that time GS had a 4.50 pt, bac 4.00, C at 6.00. All these guys are now in the mid 3's, and they will get it there. Bac is still at 4.00. Also if ctl is in trouble and they are the best line company how does that bode for ftr, the poorest run line company?
I am saying it is time to buy but not before 2/21, ftr could test or fall through the 3.06 and the biggest brokerages are virtually telling their clients to bet on it. I hope I am wrong, I hope the stock spikes to 5-6 and you all make money, even if I miss out. Bottom line, shorts likely added.