Per my previous post on CRNT on 3/19/08, it looks like Citigroup upgraded the stock from today (3/25) from hold to buy. ICAP also initiated a buy on 3/20/08. It looks like the analysts are following my lead again. It looks like I linked to the wrong chart. Dang. Yahoo! sometimes takes you to the default Yahoo! ticker if you don't pay attention. Sorry guys! I feel like a real dork now. heh.
But anyways, someone on the Yahoo! board mentioned that RBC Capital Markets also upgraded reiterated their Outperform rating. I haven't been able to find found a link confirming that one. See here:
Ceragon Networks "outperform," target price reduced
9:34a.m. 3/25/08 - RBC Capital Markets
NEW YORK, March 25 (newratings.com) - Analysts at RBC Capital Markets reiterate their "outperform" rating on Ceragon Networks Ltd (CRNT). The target price has been reduced from $14 to $12.
The target price reduction doesn't worry me much. $12 is fine with me. That would be a 50% gain. Here's the latest five day chart:
The stock has gone from about $6 to about $8 in five days. So, doing the math, $2 = 1/3 of $6, so the stock has seen about a 30% gain in five days? Let's hope it keeps going that way. :) Of course, that's likely too good to continue. I expect a dip in the next day or two, and then, hopefully another uptrend into $9+. We'll see how this plan goes. We're now almost back to pre-"correction" levels.
In my previous posts, I was a bit worried about the huge sell off in the bad market, but it looks like my fears may have been exaggerated. (crosses fingers)
p.s. I've been fixing up my old house this week, so I haven't been around to blog much. I'm putting the old place on the market this week - just moved to new digs a few weeks ago. (reminds me... need to go change my TK making address.)
p.p.s. If I had known that only one company had re-affirmed the outperform, I probably wouldn't have posted this blog message. Dang Yahoo! had me thinking that Citi and everyone else had been upgrading. argh! --Lesson for the day: ALWAYS make sure you're looking at the right chart before you blog.
