Good morning Mike,
certainly, the market might have discounted future MSDW coverage in the current price, and I wouldn't be surprised if we see profit taking when MSDW coverage starts ... kind of sell the news, and sell into a rally...
I think, more than anything, that MSDW coverage will just be the confirmation seal ... that's all... a good chance it will not add as much as already added...
and you do have a point also that MSDW might be waiting for the most opportune of time to announce their coverage trying to avoid a short term recommendation other than a buy if they think that the price at current level is fairly valued... who knows...? I surely don't.
but, since I am long and holding, not really trying to trade it, the MSDW confirmation seal is a good thing... it more or less implies, to me at least, that when profit taking occurs in the future, it will not be as severe as before nor will it last as long... and for a long, who has gotten few white hairs because of the not so far long ago decline, that is RELIEF...
best regards
amein |
