Originally Posted by
Balance
Thanks gwd!
I am no fan of Forbar research, especially after their bad calls with this stock during the 2013 to 2016 period when they could not have called this stock any worse than they did.
But with their 'renewed' coverage and $1.60 target price call, I will make the following observations:
1. Forbar is one of PEB's corporate brokers so market can expect more bullish reports to come out every time PEB releases new deals or information.
2. The research and target price 60% above current share price mean that its brokers will be pushing the stock - creating demand momentum.
3. Can expect some PEB stock to find their way into Forbar's huge multi-billion discretionary & non-discretionary share portfolios - serious $$$ there.
So expect the 1m shares sitting at $1.00 to disappear by Wednesday.