Some months ago - during one of my many foaming-at-the-mouth tirades against the unreliability of analyst recommendations and the sheer meaninglessness of their so called "target prices" - I recall your taking some issue with my cynicism.
If memory serves, you were quite enthused by the fact that the Bell Potter analyst had initiated coverage of the stock with a target price of something like $7.70, and had subsequently increased their target price to close to $9.
This, you seemed to argue at the time, was some sort of basis for integrity of, and dependability in, the analyst's opinion.
Needless to say, it is now somewhat bewildering to see you still making use - evidently with no less enthusiasm - of this analyst's target price, despite it having been cut in half.
Maybe I'm a bit too cynical for my own good, but when the share price is $8 and the target price is $16, I take note of that sort of discrepancy.
And then, when the share price halves to $4.50 and the share price subsequently follows it down, then I raise a slight eyebrow.
And then when the share price halves yet again, and the analyst's target price does the same, but only a while later, then I kind of undergo some sort of Pavlovian response and I start to see a pattern emerging.
Seemingly, you don't, though?
MSB Price at posting:
$1.72 Sentiment: None Disclosure: Not Held
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