A post from the VTSS thread:
Just for the record(as how Wall Street Charlatans operate):
03/27/00 – Prudential raises its price target from $100 to $125. Stock closed at $95 15/16.
03/28/00 – Paine Webber, in the intoxicating stupor of NASDAQ 5000, increases its price target from $135 to $200. Stock closed at $104 5/16.
08/09/00 – Bank of America upgrades from buy to strong buy. Stock closed at $70 5/16.
10/20/00 – JP Morgan initiates coverage at buy with a 12-month price target of $115. Stock closes at $76 7/8. 12 months later the stock closed at $8.90, only 92.3% off or 106.10 points shy.
12/06/00 – C.E. Unterberg Towbin initiates coverage at buy. Stock closed at $59 1/8.
01/02/01 – Sound View initiates coverage at buy. Stock closed at $47 1/8.
01/23/01 – Kaufman Bros upgrades from accumulate to buy. Stock closed at $75 7/8.
01/26/01 – Prudential reiterates a strong buy and price target of $100. Stock closed at $69 3/4. Five months later, on 06/27/01, after ample time for an orderly exit, Prudential cuts its price target to $28 and stock closes at $17.41.
02/08/01 – Bank of America reduced its price target to $85, but maintained a strong buy. Stock closed at $62 3/4.
02/16/01 – Roberts Stevens upgrades from buy to strong buy with a price target of $91, only to downgrade on 03/22/01 to long-term attractive – after insiders unloaded their shares. Stock was at $62 1/8 at time of upgrade and $40 5/16 at the time of downgrade.
04/02/01 – W.R. Hambrecht initiates coverage at buy with a price target of $24. Stock closed at $21 5/8. Two days later the stock closes at $15 15/16.
04/17/01 – Needham & Co upgrades from hold to buy. Stock closed at $25.59
04/19/01 – Saloman Smith Barney upgrades from outperform to buy, upping its price target from $27 to $36. Stock closed at $35.90
04/20/01 – Roberts Stevens upgrades from long-term attractive to buy. Goldman Sachs upgrades from market outperform to trading buy, and JP Morgan upgrades from market perform to long-term buy, citing the "bottom" in a research note. Stock closes at $34.77. Less than three months later, on 07/10/01, stock closes at $15.78.
05/14/01 – Friedman Billings rates stock at accumulate. Stock closed at $29.24.
07/12/01 – W.R. Hambrecht upgrades from buy to strong buy. Stock closed at $18.85.
07/23/01 – Needham & Co upgrades from buy to strong buy. Stock closed at $18.13.
07/26/01 – First Union Securities initiates coverage at buy. Stock closed at $19.19.
07/30/01 – Wit SoundView upgrades from buy to strong buy. Stock closed at $19.62.
08/21/01 – Despite five upgrades in April, and four upgrades in July, stock closes at a new 52-week low of $13.23.
08/28/01 – W.R. Hambrecht reiterates a strong buy rating with a price target of $35. Stock closed at $14.54.
09/27/01 – Stock closes at $7.03, after hitting a new 52-week intra-day low of $6.65.
01/09/02 – Pacific Growth Equities upgrades stock to buy with a price target of $15. Stock closed at $13.93.
05/21/02 – Prudential starts stock at hold (whatever happened to its previous $125, $100 and $28 price targets). Stock closes at $5.89
09/24/02 – Stock becomes a penny stock at 89¢, closing at an all-time low and 61% and below its 1991 IPO price of $1.50. |
