Release thru CNW today.... $.70 targetI have no idea why Genuity Cap. Markets would include NW in its recommendation since Genuity Brokerage? was dumping before its takeover by Canaccord.
The initial sell-off today seemed to be around the time that NW retracted the "disclosed target price".
Whatever is going on, I certainly like the implication of that write up. It is somewhat laughable that the stock price reacted inversely to the order of the releases. My guess is that no investor had read the report since it is 113 pages ....and then the company voluntarily retracted the "price"?? Doesn't matter.....The 70 cent target with a buy recommendation to institutional clients sounds great.
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New World Resource Corp.: Retraction of Target Pricein Previous News Release4 hours ago via CNWGroup
New World Resource Corp. ("New World" or the"Company") (TSX VENTURE:NW) - Subject to BC Securities Act 50 (1) (b),the Company retracts the disclosed target price from the latest newsrelease.
NEW WORLD RESOURCE CORP.
Genuity Capital Markets Initiate Coverage on NewWorld-Buy Recommendation and
.70 Price Target5 hours ago via CNW Group
New World Resource Corp. (TSX VENTURE:NW) ("NewWorld" or the "Company") announces that Genuity Capital Markets("Genuity") has initiated positive coverage on New World. in a reporttitled "Focus on Quality Lithium Brine Explorers". Within this 113 pagereport analyst Michael Gray refers to New World's Pastos Grandes salar"as being in the brine 'Sweet Spot' for chemistry". The well respectedinstitutional brokerage firm has assigned a
.70 price target and a buyrecommendation to its institutional clients.