[From the archives] Buy Enron: $98 Price Target

In August 2000, shares of Enron, which was at the time one of the US’s greatest corporate success stories, hit an all-time high of $90.56.

The company's shares came off this high and then traded in a range for several months between $70 and $90. Of course, at this stage there were few who realized what would happen to the company over the next 12 months.

Buy Enron

I recently stumbled across a research note, issued by Bear Stearns on January 26, 2001 recommending Enron to clients, and it makes for interesting reading. Across more than 80 pages Bear’s analysts set out the case for Enron, predicting that the company’s earnings could grow at a rate of 15% to 30%...