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Premierwest Bancorp Message Board

  • equitiesthinktank equitiesthinktank Apr 11, 2010 9:58 AM Flag

    PRWT to a $1 in 30 to 60 days easy, a 42% gain

    PRWT is priced, shorted, and rated by advisors as if it were a failed bank; but it is NOT.

    PRWT has had some Great news:
    1) $33 Million in Secondary Offering
    2) $7 Million, or 21% of the Secondary was bought by Insiders
    3) PRWT is now Well Capitalized

    PRWT has significant dilution; but it is still significantly undervalued.

    Short % was listed as 16.9% with 7 days to cover; but, it is probably a little lower; however still significant.

    Analysts Ratings don't appear to consider the recent Great news;

    I believe that if and when Analysts consider the recent Great news, they will upgrade PRWT from a Sell to at least a Hold, and Possibly a Buy.

    EPS (Basic Including Extraordinary Items):
    2009 Q1: -0.16
    2009 Q2: -1.15
    2009 Q3: -0.22
    2009 Q4: -4.46

    1) Earnings in 2009 Q4 were BAD, because PRWT wrote All of their Good Will off, along with other One-Time write offs.

    2) Earnings in 2010 Q1 should be significantly better.

    I believe that the Insiders would only buy $7 Mil, 21% of the Secondary, if they felt confident that PRWT was going to survive and prosper.

    With this said, PRWT is worth far more then $0.70 per shr.

    I think PRWT could easily go to $1, with 30 to 60 Days, which would be a 42% gain. I think this is a conservative estimate.

    And a 42% gain in 30 to 60 days is great.

    This is just my opinion.

    Is there risk? Yes, there is always some risk. And each person should do their own due diligence, and only invest as much as they feel comfortable investing.

    Good luck to all Longs.

    May the Shorts get the S H I T squeezed out of them.

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