The Barclays analyst who gave a target of 147p earlier this year is clearly either bent or completely incompetent. Or am I missing a third possibility?
Are there any more options other than the Barclays analyst being completely incompetent or bent when they gave that previous target of 147p?
It was never in doubt!
What a great day. Good luck everyone, I hope especially that LTHs do well out of this.
I can't wait for the cards to be laid out on the table and the era of speculation and rumour to have a final line drawn under it.
The remaining short positions will surely have to close and BAB can start trading like a normal company again and not a basket case Wild West stock being manipulated left, right and centre.
Thank you, "Two people familiar with the situation"
It's all a bit murky, isn't it. What was their motivation?
Article says, "According to two people". Nice journalism.
https://www.plymouthherald.co.uk/news/plymouth-news/royal-navy-chiefs-finalising-huge-5269474
So we're back to 240 but this time yesterday morning people were happy to pay 246 and it was looking like we were on the way to 250.
Do you reckon Lockwood is going for the World Record for the highest number of days a billion £ company has gone between RNS's?
Probably a scaredy cat shorter running for the hills.
They can't keep this manipulation up for much longer though because Lockwood is going to unleash the truth on the market and there will be nowhere for the naysayers to hide. Bring it on!!!
OK, so I was wrong about it hitting 350p by the end of March.
Of course what I meant to say was, "350p by the end of April".
Apologies for the confusion :)
When the Barclays analyst's friends have all closed their shorts, they'll upgrade it and then we'll get our + 10%.
Not that I'm cynical or anything.
^Liberum
Today: Liberum reiterates buy with a target price of 350p.
Well, Leberum agree with me. Ha ha.
I hear you doni and I share your pain. It is very frustrating to have a complete news blackout.
I think the board's position is clear, they're not going to announce anything until the full review is complete in May. And in the meantime they have purchased shares which tells me all I need to know. They're not going to comment on daily share price movements.
Right, it's 242p as I type so yesterday's fall clearly had no substance behind it whatsoever. The market makers are having a laugh with this share in the news vacuum.
It's my understanding that when Lockwood took over Cobham it was a basket case compared to BAB. I see no reason for a RI here and I still believe this will soon gap up to November levels (350+)
mark550,
BAB is in the midst of a news vacuum at the moment as the market awaits the result of the new CEO, David Lockwood's review of all operations. In this space now there are competing rumours, one of a rights issue and one of a takeover. The former is baseless and I believe being perpetuated by the people who are behind the short positions that are currently open, the latter is a distinct possibility based on previous recent takeover attempts (read actual RNSs). I don't want to see BAB taken over, I want it to continue as a great British company and I have every faith in Lockwood to deliver. Rights issues aren't his thing, but what we do know is that the directors have recently bought shares (see RNS), so have big US institutions (including Goldman) (see RNSs) and Lockwood is steering the ship in the direction of cutting out the loss making aspects (hence current sale of offshore helicopter business) and complete accountancy transparency. So it is my firm opinion that soon the shorters will have nowhere to hide and that we're in for a swift adjustment back to November levels of 350 very soon.
What will it be worth in a year's time? My guess would be somewhere between 500 and 600.
Totally agree gssvejk, because you can quite easily set up a load of noddy companies and use them all to short at 0.49% and get round the rules that way.
Yes, it's been a loss-making drag on BAB and they've been stuggling to offload it. Great news they have found a buyer.
They've been hovering either side 0f 0.50% for ages. That's the threshold for whether or not you have to report your short position and every now and then they up it or drop it by a tiny fraction of a % to appear or disappear from the list you see online. See shorttracker.co.uk for a clearer view, if you're interested.
It seems like people are going to extraordinary lengths to continually try to bash BAB. Boatman, which reads like a disgruntled former employee, these press stories that appear to bash it as soon as it goes up "too far". It really feels like an orchestrated attempt to keep it down. I don't know the reasons behind it, but even Boatman conceded there's actually nothing much fundamentally wrong with them. Maybe it's a concerted attempt to keep them down pending an attempted buyout. Who knows.
What's fantastic is that Lockwood is clearly commited to complete transparency so as soon as he reports back the market will have certainty going forwards and this can start to trade like a normal share, rather than some crazy AIM gamble.