Piranha Ends "Quiet Period!"
<< "If anyone can get better info, I heard that an analyst lowered his numbers late yesterday. I can't find it anywhere. If it's Brecken, that wouldn't be a big deal since his numbers are absurdly high anyway. On the other hand his company is the buyer this morning, while Montgomery is a big seller." >>
Here's my take on this. According to info I just got from First Call, FahneStock initiated coverage yesterday with a BUY. As a result of this, some changes to the consensus occurred, which (if you don't have all the information) might cause it to LOOK as if someone lowered estimates.
FahneStock's estimates are:
2Q 0.53
3Q 0.50
4Q 0.51
FY 2.04
After FahneStock is factored in, the consensus changes like this:
2Q DOWN 0.01 from 0.54 to 0.53,
3Q UP 0.04 from 0.48 to 0.52,
4Q DOWN 0.01 from 0.56 to 0.55,
FY DOWN 0.01 from 2.10 to 2.09.
We now have four houses covering, all with BUY or STRONG BUY recommendations. Since the terminology the various houses use can inconsistent, the Consensus Recommendation is 1.3 which is up from 1.8. Lower is better, and 1.0 is the highest you can have.
FYI, First Call no longer even shows a trace of either Opco (Lenny Brecken) or Buckingham Research, both of which had TDFX as a HOLD. As far as I can tell, Brecken has disappeared from the 3D scene completely, as he no longer shows up in the TDDDF analyst recommenations either.
Addendum: After posting this and re-reading it, it seems the First Call numbers are a little out of whack. I think they put the wrong "previous mean" estimates in the report I pulled today. According to an older report the previous means were (as of 6/10):
2Q 0.53
3Q 0.52
4Q 0.56
FY 2.10
Piranha |
