By Tom Winnifrith | Tuesday 15 July 2014
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
What happened to Kevin Ashton the Canaccord analyst who refused to publish a buy note on Quindell (QPP)? He was put on gardening leave. A new gopher is in place and he has resumed coverage with a buy stance (quelle surprise as Canaccord is joint broker) and 354p target. That is a 70% cut in target price. Earnings forecasts for 2014 and 2015. It would be fair to say the Mr Ashton would have regarded such a target price as wildly optimistic. Perhaps that is why Canaccord suspended him.
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