BMO Nesbitt Burns comment Poseidon Concepts (PSN-TSX) Close: $4.06, down $1.22
BMO Nesbitt Burns analyst Michael Mazar advises investors to stay clear of Poseidon Concepts Corp., even after a recent stock plunge left the designer of tanks for fracking-related fluids trading at a "seemingly attractive" valuation. He also believes the monthly dividend will be cut by more than half to 4 cents a share early in 2013.
Downside: Mr. Mazar cut his target by $2 to $5.