tox target price It's interesting to note tha Carmichael's...

tox target price It's interesting to note tha Carmichael's target price of 23c coincides with a chart based projection. Over the past few months TOX traded in the price range of 9.5c to 15c, roughly. This range represents a price gain of 5.5c which is 57% on 9.5c baseline. A similar percentage gain on a successful break above 15c will send TOX to 23.5c.

On a fundamental level, at 13c TOX is trading at 21 times this year's estimated EPS of 0.66c. Carmichael's forcast for next year is 1.36c. At 23c the implied PE is 17 times. Reasonable projections, I think. And the price target is not overly optimistic.