RE: Market TodayFootsteps
Good find. Here's an extract of the last two sentences.
Generally projections such as this often come to fruition long before the "traditional" target price period has lapsed 12-months from now.
EXTRACT FOLLOWS:
We apply a 3.0x P/S multiple to our slightly modified F08 sales to arrive at our unchanged price target of C$0.65. We maintain our BUY rating as we believe that Sirit is nearing a phase of profitable growth at the same time industry maturity is opening up significant bid activity.
END OF EXTRACT
Friday's close: Was it not exactly 32.5 cents? What a coincidence.
Is a 100% ROI projection on your investment dollars not enough to make you want to wait for it? It is for me. Not saying that analysts get it right most of time. However it's can't hurt to be on the same side of their less-than-perfect predictions.
My personal gut feeling is that we have more to worry about relative to how small or micro caps react to any significant across the board middle/large cap market correction. Sirit is not immune to be dragged down with all the rest. Thus something significant from Sirit in the near term would go a long way in reducing the possible impact if such a correction becomes a reality. Seems more and more so-called experts are once again projecting a significant pullback and often this type of hype becomes self-fulfilling. Let's hope they are wrong because the timing would not be good relative to Sirit's current stock price.