any news?, page-20

In January RBS reduced its forecasts for TGR, citing expected price weakness in export markets combined with increased TGR production resulting is supply that will exceed domestic market demand. Revised share price target $1.28.

Thesis:
"Ongoing price weakness in export markets, coinciding with TGR's renewed push offshore given increased production capacity, drives modest downgrades to our near-term forecasts. We acknowledge that on the surface the stock looks attractive on a 8.7x FY12F PE (and renewed corporate interest cannot be ruled out); howeve, on a standalone basis, uncertainty about ongoing margin recovery and an adequate return for the significant capital investment
undertaken since FY07 prevent a more positive rating. Hold maintained."

Perhaps this is why we have been languishing recently. We need another take over attempt to happen to shift the price. Its ridiculous where it is right now.

FG