Newsgroup: it.economia.borsa.estero
Titolo: enron (videocassetta a 2 km da wall street da vedere subito)

THIS IS INCREDIBLE.
July 12, 2001: "we are RAISING our recurring 2002 EPS estimate - our new
target is $70"- a Strong Buy with the stock trading at $49.22.
August 15, 2001: "Management is adamant there are no hidden or undisclosed
issues at Enron leading to Mr. Skilling's departure. The move is purely a
personal one and we maintain recent earnings guidance." Stock is still rated
a "Strong Buy", but target price is lowered to $60.
August 16th 2001: Enron hosted a dinner in NY for senior analysts. "With a
heightened focus on shareholder desires, solid bench strength and global
network franchise soundly in place, we believe Enron is back on track to
deliver"
August 17, 2001: "ENRON: Likely Headed Higher From Here"
"With the dust settling, we would be AGGRESSIVE BUYERS at current levels."
Stock rated Strong Buy at $36.85
October 17, 2001: "12-month Target now $47 Per Share"
This was day after Enron reported 3rd quarter results.
"We believe all bodes well for improved earnings visibility and performance.
Company is making progress at getting back on track". Target price is
dropped from $60 per share to $47. However Enron is still rated a STRONG
BUY." Now trading at $33.84.
November 1, 2001: This was when it was discovered Enron "might have" entered
into some shady dealings through partnerships it had established. "Enron is
still rated a Strong Buy with the stock at $12.50. But target price is
lowered to $29".
November 12, 2001: "DYNEGY & ENRON: Just What the Doctor Ordered; Reiterate
Strong Buy"
November 15, 2001: "By applying the 25x market multiple against $3.50, we
arrive at a 12-month price target of $88 per new DYN share". Enron is
trading at $9.91 with a Strong Buy rating.
November 28, 2001: Barone FINALLY capitulates. "We have lowered our rating
to "Hold" from Strong Buy....in fact we have been highly cautious of the
precarious state of Enron ever since this mess accelerated." What a CROCK!
LOOK AT THE PROGRESSION!
July 12, Barone has a Strong Buy with price target of $70. The Strong Buy
recommendation is maintained ALL THE WAY UP TO NOVEMBER 28TH!!!!!!when stock
is downgraded to a hold.
(Even on November 15th with the stock trading at $9.91, STOCK IS STILL
CALLED A STRONG BUY.)
Friday the stock closed at $.26 per share.
Conclusion:
OK. Let's assume Enron was misleading analysts. But how in the name of all
that's Holy can not just one, but MANY top dollar, high powered Wall Street
analysts be this absurdly wrong. We are under the impression analysts are
paid to provide ideas for investors to make money.
If the best and brightest on Wall Street can be duped this completely, and
dupe the guts out of us, what hope is there for the average investor. The
moral of the story- don't put your faith in Wall Street analysts. Despite
the high powered firms and obscenely huge salaries, they can be as stupid as
the next guy. Or is it stupidity?
It IS criminal.
June
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te vòl !!!
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