Was coming in here at this level, as I said on Wednesday it will fall to circa 150p following dividend. I thought this would be the bottom around 150 and a good entry price; Now my problem is Goldman giving a target price of 100p. I know us smaller investors think this is far to low based on the assests and future of this business! However the big boys and MM's dictate the price of the this share. I fear they will listen to the likes of Goldman and this could fall yet further! So I am going to waite and see. What do you think, has this bottomed or is going down further thanks to target prices of a 100p from the likes of Golman Saks ??
Goldman Sachs today downgraded their share price target on ABG to £1.00 from £3.70! In September 2012 their share price target was £4.60. ABG have had production screw ups, the management are poor but the asset is as it was last year and they are in the middle of a full scale review to reduce costs and generate cash flow by, amongst other things, focusing on the capital intensity of their projects. This market is being pushed around by teenage scribblers who do not have the capacity to think. What I recommend is that you all write to ABX and ask them too put in some decent management, then watch the stock fly. Ignore GS they are idiots.
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