Western Digital Analyst issued "sell" rating on it on the 16th. On that day, the stock went up. The financials are picture perfect. The P/E is at 9.94. No debt. I give a price target of 20 bucks in six months. Legg Mason Stock is being traded on fear and not fundamentals. Price target for 100 next 6 months. Marvell Another stock being traded on fear and not fundamentals. Bottomline is that there is too much fear in the market and not fundamentals. The beaten down issues should recover in the next 6 months.
The clear signal on WDC is the analyst downgrade and the stock not dropping. If an analyst hammers a stock, shouldnt it drop? Actually, the same analyst issued not one, but two sell ratings along with lengthy diatribes The reason is that everyone who wants to sell sold and now the value investors are stepping in.
I own WD and LM. I am comfortable with WD, as it is in perfect financial condition. LM should do fine because of its fixed income management biz.
I have initiated coverage on Yahoo and believe that it will be at 30 dollars in six months. The stock has not been this low since the early part of 2004. P/E looks very attractive at these levels and it appears Yahoo is fighting back against Google. My prediction is that this is now the bottom. My rating is strong buy at this time and todays closing price is $24.15. Too much bearishness floating on Yahoo and oversold at this time. Here are my other stocks that I am covering: Western Digital Analyst issued "sell" rating on it on the 16th. On that day, the stock went up. The financials are picture perfect. The P/E is at 9.94. No debt. I give a price target of 20 bucks in six months. Initiated coverage "Buy" - Price when coverage initiated: $17.87 Legg Mason Stock is being traded on fear and not fundamentals. Price target for 100 next 6 months. Initiated coverage "Buy" - Price when coverage initiated: $86.25 Marvell Another stock being traded on fear and not fundamentals. Bottomline is that there is too much fear in the market and not fundamentals. The beaten down issues should recover in the next 6 months. Initiated coverage: "Buy", Price when coverage initiated: $16.25.