Or a downgrade apparently. Have to love these guys at FBR! They raise their target price after 4Q earnings by $2, now they lower it by $4.50! Almost everything they cite for the downgrade is stuff that everyone knew after last earnings except gold going down 5%. What conviction!
LOL. So this is when fortunes are made and lost. They had their first momentum shift quarter, FBR upgrades, then, without any company specific data for the next three months, only macro/market analysis, FBR downgrades prior to the companies next announcement. Do they know more than you or less...Do they have some specific data that or just reading the macro tea leaves ;)
Anyway, if there was a time to buy, and you believe this company will execute, that time is now ;)
Wetern Digital kept getting downgrades but earnings kept going up. Wonder if this is same situation? Are thes analyst trying to get peoples shares on the cheap? Financial ratios are phenomenal. I don't trust analyst anymore (actually never did). I'm thinking of buying shares so that I get benefit off this unreasonable call.