According to my monthly literature which named LU as one of the top 25 stocks of the year, the price target for December was 56 post split. This magazine was extremely bullish on the stock and its earnings, much more, in fact, than Wall Street was. The other factor that I see is that I believe we will have a several hundred point correction over the next few months as MM remember what companies have been saying for the last quarter: Earnings will suffer from Asia! I don't expect LU to be much affected by Asia, but I do think that it will be affected by the overall market. So, keeping these things in mind, I would set a price target at about $55. Of course, for a long term buy, I could probably live with anything below $60, but $55 and below is the most attractive, and I believe that we will see it at this price...
LU & CSCO long,
JRH |
