Regarding Cowen Strong Buy rating:
I do not own CEPH any more, but I held it for most of last year (bought at $25, held on all the way to $14 and threw in the towel at $21).
I was a Cowen brokerage customer and received their reports weekly (I closed the account awhile ago, but I'm still on the list ;-) ). Cowen has had a stong buy rating on CEPH for at least a year and a half. When I bought it last year, their 12 mo target price was $60. Now, a year later, with the price still around $20, their 12 mo target is $45.
I wouldn't get too excited about the Cowen announcement - it's not really news and while they remain positive, they have radically adjusted their target.
I'm on the sidelines for this one, but I continue to follow the story (the option deal was interesting). I wish all of you the best of luck next week.
WEM |
