a price target (90) that implies a 60x forward pe is just ignorant and a sign of this inflated market and inexperienced analysts who have become accustomed to stupid valuations
Its all about cutting costs and tx decreases to leverage..great move...but PRRGo was far from cheap on its own as Cramer states..its all financial engineering and low interest rates...
Its all financial leverage becasue there is little growth in todays markets...
I buy and short stocks and lately more and more stocks are overpriced in my opinion based on earnings and growth. The market as a whole has been artificially inflated by negative interest rates and bubble like conditions are occurring. Stocks by almost every measure are expensive. 94x earnings for a cancer cure is expensive.....I dont short high flying momentum names until they crack technicaly.
That is what zero interest rates get you..dumb valuations
stock will sit here for years
the market as a whole is one big short squeeze. the perceived weak opening allowed huge buy programs to enter the market and squeeze shorts. hlf will fall like a stone after.