so Argus says 2014 high target of 71, while FBR says 2014 high target of 52.
Important to remember these targets are for the high of ALL 2014.
Seeing how there's a 20 point difference there, how can they mean anything ?
I heard an analyst on Bloomberg last week say he's loaded on January 52.5 puts.
Bay Crest Partners.
He cut the cost of those 52.5 Jan puts by selling Jan 50 puts. The video is on
there.. he said even if it pops on earnings reaction, it's lofty valuations will stop
it from going higher. Consider that Morgan Stanley said the same thing after
earnings, and Stifel Nicolaus actually cut the stock.
Market mechanics say with a poor projection for all 2014 there is to be expected
some serious gain taking in this soon, and if you're thinking about going long, or
staying long, you might want to wait for a test of the bottom of the trend zone,
at 55.. because that may indeed fail. Don't let these 12 month targets keep you
in a stock that has already gone bananas, and dampened forecasts.
What is the 2014 LOW target ? hmm ??
one more thing.. consider CRM is now 12% off it's 52-week high, which it achieved
on earnings last month. This is likely to follow suit to its peer, low 50s and possible
lower than that if the overall market goes for a tumble.