RE:analyst's review.Perhaps we could get a bounce without the dead cat?
If "we reiterate our Strong Buy" means anything this analyst (still) thinks PRN is the cat's meow. Something set the cat amongst the pigeons today. It wasn't pretty - that chart looks like something the cat dragged in. PRN blamed COVID - again. No doubt trying to get things done with COVID related disruptions is like hearding cats. But if anyone has reason to think that this cat is
dead - I think it's time to let the cat out of the bag - and enlighted us.
ghayes wrote: I am keeping a close eye on the RSI .. possibly a dead cat bounce coming ?
Here's the first paragraph of RJ analyst's take on the latest activity of PROF.
sorry the formatting won't copy over.
RECOMMENDATION Profound Medical (PROF-NASDAQ, SB1) reported 3Q21 results last night with a wide miss on Rev. ($2.5 mln vs. $3.1 mln RJe; $3.5 mln consensus; see our Pre-3Q21 expectations).
So, with this Q’s disappointing revenue, we have taken a moment to reflect on our view of PROF. We have always believed the right way to think about this stock is on an 18-month time horizon, certainly not quarter-to-quarter; however, while our conviction in PROF’s fundamentals remain undiminished, we do owe a mea culpa on the fact that we got the timing of our call wrong by ~1 year(explanationonpg.2). As such, we take this opportunity to adjust our revenue estimates to what we believe is a reasonable baseline that PROF should meet—if not, beat—going forward. As such, we cut our 2022 EV/Rev.-driven target price to $28, but, maintaining our focus on PROF’s exceedingly strong fundamentals, we reiterate our Strong Buy ratin