Peter Misek the new Torch Bearer for $BBRY (or so the media thinks) is definitely no oracle when it comes to predicting the future. He is merely another analyst jumping on the bandwagon with everyone else.
But somehow if you read all of his ratings and ( ridiculous) target prices you realize he has no real grounded idea on where the stocks are going. He's only following the trend and using huge (unrealistic) numbers for headlines.
Consider a few of his last ratings:
APRIL 2012 Mr Misek quoted saying " $RIMM could easily reach $43/shr in 12 months."
AUG 2012 PM Upgrades his $AAPL target price from 800 to 900.
OCT 2012 $RIMM $BBRY the stock was at $8.50 when he rated $RIMM $BBRY an UNDERperform with a target of 5$.
So April of last year Mr Misek is quoted as saying "$RIMM $BBRY can reach $43" and not on a buyout FYI. #headlinegrabber?
In AUG of last year when $AAPL was doing its huge run up to $700 Mr Misek raised his target from $800 to $900. Well it fell after it hit 700 to 443 a huge drop. Somehow i guess he didn't figure on that. Another unrealistic number to grab a headline on CNBC? #headlinegrabber
In October after $BBRY released horrible results for the quarter he stated that his target is 5$. No really??? Wait didn't you say in April that $RIMM $BBRY can go to $43 ?????
So now FEB 2013 he's saying $BBRY target is $19.50. Hmmm What happened to $43 ?? Did you get a sample Z10 and realize it's 3 year old technology too little too late type thingy?
Let me be clear i have nothing against Mr. Misek or Blackberry $BBRY. I like Blackberry and they should have collaborated with Samsung to produce the hardware.
I'm only pointing out that people who follow the analysts in the headlines need to do the research before you actually take them word for word. They're doing a job looking out for themselves, trying to land a bigger job at a bigger brokerage. Its the American Way. You can't fault anyone for doing that.
Just make sure you always do your homework. That's what we have Google for !!!
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.