And what do you know - POOF - BANKRUPT!
Hope Tesla isn't destined for the same fate....but it shows how much you can value Wedbush's trusted analyst opinion.
Wedbush upgraded Exide Technologies (NASDAQ: XIDE) from Neutral to Outperform with a price target of $5.00.
Wedbush analyst says, "Upgrading Exide to as we believe the market has over-discounted problems at Transport-NA, valuing the segment at well below replacement value, yet discrete gains are likely in CY2012. Competitive implications of new smelting assets coming online at JCI, and the consolidation of junk units to start those assets is now understood by the market for the impact on both product pricing and the strategic procurement of lead. The pending closure of Bristol, TN, is an indirect remedy, saving $20m-$25m by 2HF13."
For an analyst ratings summary and ratings history on Exide Technologies click here. For more ratings news on Exide Technologies click here.
Shares of Exide Technologies closed at $2.81 yesterday, with a 52 week range of $2.22-$12.68.