Elliot,
Something odd is going on. The research report on New D being done at Oppenheimer is not done yet, so it is curious that they put the recommendation out already. Also, I don't know where they released the premature recommendation, but it was not wide. I could not find it on a number of web sites, and my broker did not see it on Reuters (I think that is what his firm uses).
Also, I let the company know today that the earnings numbers shown for them is wrong at a lot of web sites, and with a number of brokerages. I actually found a site today that showed New D LOSING 22 cents in the March quarter this year. So, Laurie is going to look into this nonsense that is going on. DBC Online has us having 24 cents for the last 12 months. Yahoo has us as "NA" for earnings. In fact, I think Charles Schwab, T Rowe Price, and Fidelity have us wrong as well (if I am remembering them all correctly). Anybody looking at New D on these sites is getting bad information.
Given coverage that is properly announced (probably soon, since Oppenheimer will have to re-announce the availability of a research report), and continued growth and company announcements, the $30 price forecast may well prove to be conservative. I follow too many companies, earning less per share, and growing more slowly that trade at multiples that are twice their growth rates. It is silly we trade at half our growth rate. In time, the truth (and the shareholders) will win out. Later.
Mike |
