RE:RE:Pricing of PP ?It's interesting to observe that Raymond James (RJ) has been very conservative in his recommendation wrt ICG. In April, his original recommendation was "strong buy" with a price target of $0.70, but later he downgraded ICG to "outperformed" with a price target of $0.80. Just don't quite understand his combination of downgrading but increase in the price target, anyone is willing to explain?
Later, in 13 May RJ was found to be one of the two syndicates who wants in the PP of 8.5Ms @ $0.59/s. To a simple-minded observer, this could be viewed as a good set up to buy on the cheap (market was at ~$0.69), at a ~$0.10 (~15%) discount. Not bad for a day's work, when when we talk out 15% of $5M. Today, it closed @ 0.74. That's a good way to make some profit.
GH