Ceradyne Trying to Chase Away the Bears (CRDN)

May.25.06 | About: 3M Company (MMM)

According to Yahoo! Finance:

Ceradyne, Inc. (CRDN) will host a financial analyst day on June 5, 2006, including a live webcast of management’s presentations and question-and-answer session.

Coming on the heels of a good deal of volatility and an unfavorable analyst recommendation (American Technology rated the company a Sell and put a price target of $16 on the shares) it looks like Ceradyne wants to tell its side of the story. It couldn’t hurt.

Meantime, for the sake of balance we’d like to see what looks so bad to the analyst at AmTech. At $16 per share, the stock would trade at less than 10x our bear case earnings estimate.

CRDN 1-yr chart:

CRDN 1-yr