Prasanna, as I mentioned on valuation grounds it looks great, but financially quite weak, however, just as I had to turn down my FA watch on WFR last week and jump in on the TA, I think that IMPX could be gotten in. Strategically, I would wait for a retrenchment to about 1.875 to 2.125, but it may never turn back (WFR gave us only one opportunity back at $14 after I succumbed). But please do not over commit, this is purely a technical call, visibility of a turnaround is not here yet, and if they turn a profit, their should be ample time to jump back in well before the major move. If they miss the wagon on this semi up cycle, I think they could be dead meat on the next down turn.
Zeev |
