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Technology Stocks : Audible Inc-(Nadaq-ADBL)
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From: Cautious_Optimist8/9/2005 8:25:52 PM
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Is it oversold??? From S&P today:
Audible (ADBL ): Reiterates 5 STARS (strong buy)
Analyst: Scott Kessler
Shares are down 14% today, following release of second-quarter results yesterday after close. We think the sell-off is an extreme overreaction, and regard the pullback as an enhanced buying opportunity. Increasing spending on new initiatives and IT infrastructure constitutes modest near-term negative, in our view. But, these investments are being made to prepare for significant future growth, which we expect to accrue beginning in 2006, when we forecast revenues will surge 75% and EPS will more than quadruple. Audible now has 2006 p-e-to-growth of 0.93, which we consider a compelling value.
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