Analysts can sometimes be "fun".
Monitise Plc, the mobile money company, backed by Omega Adviser's Leon Cooperman, has had a tough year. Year to date the company's share price has slumped 88% as it has failed to meet any of its key targets.
But yet, despite the company's endless stream of disappointing figures, analysts at BTIG still rate the company a 'buy'. In fact, until yesterday BTIG had a 12-month price target of 52p on Monitise's shares. Although, after yesterday's dismal trading update, analysts have now reduced their 12-month price target to 9p -- 221.4% above the current price, but still have a buy rating....
Monitise: Trading below cash
Mark Palmer and Giuliano Bologna are the analysts here, and their rather optimistic forecasts are based on the...
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