Angie's List bounces on bullish sell-side notes


After diving two days in a row thanks to news of its CTO departure and related analyst commentary, Angie's List (ANGI +4.3%) is rebounding today as Piper and Oppenheimer come to the local services site's defense.

Piper, which is reiterating an Overweight and $30 PT, expects Angie's to post in-line Q3 results and suggests the departure of CTO Manu Thapar was driven by a desire to better position the company's platform for the future.

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Comments (3)
  • Mioracle
    , contributor
    Comments (91) | Send Message
     
    Now the pump-and-dump is getting blatant. No wonder Wall Street has such a sorry reputation these days
    2 Oct 2013, 11:58 AM Reply Like
  • naatalie marra
    , contributor
    Comments (4) | Send Message
     
    Would it be possible that the "bounce" may be from covering
    of short positions? What say you who are much more informed/experienced than I? Thanks....
    2 Oct 2013, 12:54 PM Reply Like
  • Mioracle
    , contributor
    Comments (91) | Send Message
     
    The short term bounce today may very well be. . .small volatile companies often bounce around for a number of reasons. . .but I think a $30 target on this company is irresponsible at best
    2 Oct 2013, 04:47 PM Reply Like
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