Analysts don't seem to know. They weren't aware of any brokers cutting TP when I called this morning. Current analyst high $14.80; low $9.75 and mean $11.40 ... so looking very cheap on analyst NPV TP's or simple P:E ratios vs peers. They're unsure whether its just an insto cycling out quite aggressively or whether somethings on and some players know.
I thought it could be that perhaps they have lost (or about to lose) a big insto client and news leaking out somewhere?
MFG, NGI, PAC all down a little (the only other stock pickers I watch) - but nothing like PDL.
Presumably they'll get a please explain ticket and we'll get a response Monday. And if there has been a leak - ASIC should grow a spine!
PDL Price at posting:
$8.56 Sentiment: None Disclosure: Held
