....Despite the recent decline, shares have been up over 33% for the year to date thanks, in part, to those rumors. So if you're in the stock now, lock in profits and move on to the next great idea or risk losing 25% more.
Raymond James analyst Pavel Malchanov believes these shares are still too expensive. At 22 times forward earnings estimates of 54 cents per share, according to Yahoo! Finance, it's hard to argue against Malchanov's position.
Of all of the analysts who cover GT Advanced, the lowest analyst price target is $9, which represents roughly 25% decline from current levels. Hanging on to a stock on hopes that it will recover is one thing, but for a company that has yet to post positive earnings and recently posted year-over-year revenue decline of more than 60% that's not a risk worth taking. Raymond James deserves credit. On Aug. 28, the investment firm downgraded the stock to underperform. Raymond James remains bearish. This time, bet on the analyst. ..Malchanov doesn't think the Apple Watch sapphire-coated display is enough of a catalyst to propel the stock higher in 2015, which is when the watch will be made available to the public...http://www.thestreet.com/story/12883525/1/...c=yahoo&cm_ven=YAHOO |
