This is what a an advisor sent me when I queried them about MFS's unusual 10% drops on the 11th of January.
So I though I was on a winner at $3.50 ea.. But then I guess Merryl Lynch Thought so too at $4.50ea, there must be value there now or has everyone gone mad?
0132 GMT [Dow Jones]MFS (MFS.AU) share plunge a result of panic selling and isn't justified with company's operations performing well, says ABN AMRO analyst Belinda
Moore. "People are worried about their debt position, but there's a lot of untrue rumors going round on MFS - unfortunately in these kind of markets, everyone's getting panicky," Moore says. "Anyone making an announcement
that has Centro (CNP.AU) in the name, causes panic - complete panic. But we think there's a good management team there...operationally the business is performing
well." Last trade at A$3.58, down 9% - earlier falling as low as A$3.21. Moore notes stock now "ridiculously cheap". "You're buying Stella and getting the rest of the business for free; 60% of this company is a travel business," she says.(SVM)
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