Worst predictors of the End of Anything.
And much more!
Don't listen to them. They are either one person with many aliases, or different. One thing you can be sure: It's not the End of the World or PRWT as they all predicted in 2011 and the past.
To think that the buyout is the equivalent of .165 and I was lambasted a few years ago when I posted the TWENTY FIVE CENT price target the two (the ONLY two) analysts had for beloved PRWT (yes, PRWT was HIGHE than 25 cents at the time).
Where's gabecalvo; the person who after reading my post wished I "got" cancer???
Congrats on the buyout!
When you make a general statement like this you need to get your facts straight. I never said PRWT would be shuttered in 2011. I stated that this Bank is a zombie bank, and it would take a long time before any major improvement would be seen; while in the meantime it was always possible the FDIC may initiate an "loss share assist transaction". Both of which conintue to be accurate statements.
While I have been negative re PWRT for a few years (you're new around here, right?), I don't believe I ever emphatically stated that PRWT would fail etc. I did think the chances were good, and I surely wasn't going to invest in PRWT (GREAT call in hindsight, no???)
Sure I posted some good info, IDC rankings and even the reduced price targets for PRWT only to be tarred and feathered by longs who were afflicted with CONFIRMATION BIAS (Google it, if you don't know what this is). For those who have been long PRWT more than a year, I'd say at this juncture that they have been dreadfully "wrong". PRWT is still in TERRIBLE shape. Can it survive on its own? Who knows? Buying shares of PRWT is purely a speculative bet. IMO, there are better financials to invest in. And believe me, ask any banker if they'd like to have a representative (or two LOL!!!) from the Treasury on their board and they will say NO!
Good luck with your speculation; it very well may work out for you.
Here'a a bone:
Bloomberg terminal (subscription; not the free website) shows the same (and only) two analysts who have covered PRWT for a few years:
Rulis, D.A. Davidson whose current (A/O 1/24/12) price target is .95 (down from previous 1.00 target 10/26/11). Rulis has a NEUTRAL rating on PRWT. He went "neutral" on 6/29/11 from UNDERPERFORM, which was his rating for a LONG time before that.
O'Brien @ Sandler O'Neill still has his SELL rating; last HOLD rating from him was 7/23/08! His target is .75, also dated 1/24/12. Previous target was 1.50, but on 10/4/11 he cut his target in half.
Sure targets don't always equal reality, but these two guys have been pretty SPOT ON.
Are you aware of PRWT's market cap? YIKES!!!
Past performance is not always indicative of future performance...that said, enjoy: