Yet another analyst say BS to big Muddy# Stock
Y*e
1 楼
Needham & Co. chip analyst Quinn Bolton this afternoon writes that a
negative letter this morning by research firm Muddy Waters that drove down
shares of Spreadtrum Communications (SPRD) by as much as 34% contains “
NOTHING NEW,” he writes, in all caps.
Bolton reiterated a Buy rating and a $30 price target on SPRD, writing, “We
believe Muddy Waters is taking advantage of its success in identifying
other fraudulent companies in China to raise questions about Spreadtrum in
order to profit from its short position in SPRD. We encourage investors to
buy SPRD on related weakness.”
negative letter this morning by research firm Muddy Waters that drove down
shares of Spreadtrum Communications (SPRD) by as much as 34% contains “
NOTHING NEW,” he writes, in all caps.
Bolton reiterated a Buy rating and a $30 price target on SPRD, writing, “We
believe Muddy Waters is taking advantage of its success in identifying
other fraudulent companies in China to raise questions about Spreadtrum in
order to profit from its short position in SPRD. We encourage investors to
buy SPRD on related weakness.”