ATY-t...in the news:
Globe says Urlocker downgrades ATI Technologies
Mon 25 Nov 2002
The Globe and Mail reports in its Saturday, Nov. 23, edition that ATI
Technologies shed 19 cents to close in Toronto on Friday at $12.19. The
Globe's Market Movers column reports that ATI, a maker of computer graphics
chips, was downgraded to "hold' from "buy" by UBS Warburg analyst Michael
Urlocker. The Movers column reported on Oct. 3 that six securities
companies, which the paper did not name, cut their targets on ATI. At the
time, ATI stock was trading at $6.85 or a whopping $5.34 below Friday's
close. Globe readers may wonder, at times, if the paper is actually a
contrary indicator of where a stock price may be heading. On Sept. 9, when
ATI stock was trading at $9.48, the Movers column reported that Merrill
Lynch was maintaining its "buy" rating, citing its belief that the stock
was unlikely to go lower. However, the stock did go lower, sliding $3.06 to
$6.42 on Oct. 7, just two trading days after The Globe reported the six
brokerage price target cuts. After the price target cuts news the stock
climbed $5.77 to Friday's close. |
