Angie's List +8.2% on BofA/Merrill upgrade


BofA/Merrill's Paul Bieber has upgraded Angie's List (ANGI) to Buy, albeit while keeping his $16 PT.

Bieber likes what he heard during CEO Bill Oesterie's recent BofA/Merrill conference talk, and thinks the company is seeing a better-than-expected response to its new tiered pricing model.

He adds Angie's, dogged recently by growth concerns, is still seeing 20%+ growth in some Midwestern cities, and is once more growing its sales force.

25% of the float was shorted as of May 15. Shares are still down 61% from a 52-week high of $28.32.

BofA/Merrill downgraded Angie's on Feb. 5, when shares were at a much loftier price of $18.85.

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Comments (4)
  • Patent News
    , contributor
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    angieslist a scam
    6 Jun 2014, 09:46 AM Reply Like
  • Mioracle
    , contributor
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    Yeah I wonder what possible reason Mr Oesterle had for pushing his company stock. I am sure it has nothing to so with the (literally) thousands of shares he sells every month.
    Fact is, if he was so confident about the future of this company, why is he not buying at these depressed levels.
    This company - and the crudulous wall street crowd - examplifies everything wrong with wall street today. I remain short
    6 Jun 2014, 09:53 AM Reply Like
  • Danny Duplex
    , contributor
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    @mioracle-I was thinking the same thing. I wonder why Mr. Bieber didn't address the continuous selling by Mr. Oesterle? I will be shorting this into the run-up as BoA seems to be the only ones "hyped" about ANGI.
    6 Jun 2014, 10:03 AM Reply Like
  • Mioracle
    , contributor
    Comments (90) | Send Message
     
    I guess it is considered rude or inappropriate that an analyst would bring that up. My thoughts are mentioning that would interefere with his mission to hype the stock (and maybe there is some psychological 'anchoring' behind this, i.e. the ability that people have to ignore data that doesn't fit their preconceived notion) and that Wall street seems to me to be going back to the model it followed a long time ago, even pre-Enron, where everyone knew there were a certain amount of paid 'touts' of a particular company and that those in the know merely ignored them, and shrugged when the credulous would take them at their word.
    6 Jun 2014, 10:21 AM Reply Like
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