very close to a multi-year trough. Where were they when MDR was trading in the $12 range earlier this year? (45% loss since then)
I'd love to know what the rationale behind this "call" is. Are we to suppose that MDR will fall a lot more than the 45% so far before the call? ($4.25)
Does anyone know what Johnson Rice has to say? They've had an analyst relationship with MDR going back decades.
Still holding, but not buying either.
some firms are trying to politically correct as not permanently damage their I banking relationships.
If a firm has "overweight, equalweight and underweight as their ratings, while no longer using terms like sell, hold and buy, I think its pretty clear its all the same.
Typical bonehead late call. My guess is it is because of all the end of year tax selling that will occur the next two months. In that regard they are probably right. Yet MDR is selling for cost of assets and a buy out could happen. And MDR will work off the bad bids in time. In my book that rates MDR as still a hold.
That sounds fair, except I will add that it is likely to drop to a new 52 week low 2 or 3 times before things improve and a buyout is very remote given the mess. Maybe someone would try to cherry pick some assets, but I can't see anyone willing to inherit the whole tamale given the problems.