There's no doubt that broker analysts are very adept at putting "lipstick on pigs" and seem to have an uncanny knack of commencing coverage with lofty SP targets, that often see a surge in price and volume .... to be followed by the inevitable CR .... at a "discount to the 10d average price" .... only to see a subsequent reduction in price and volume ..... followed inevitably by another "analyst update" with "target SP maintained" .... and maybe another CR. " rinse wash repeat " .... brokers earn money NOT by their clients success (that's incidental) BUT by CR fees. I was warned off indirectly but an old ex-head of research, who said these "venture capital brokers" need a minimum of 1 CR per week to keep their lights on ... which means almost every dog will have its day . Now, even though COI has relatively sound fundamentals, it still needs a big brother, and that will remain STO, and they have bigger fish to fry ? And as you imply, development costs are often understated and hence takeover SP over estimated. Once again, investors can only speculate and there's an abundance of that on HC.
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