bbotcs, this market is impossible !
I mean CPRI($64) crushed earnings estimates, guidance of 15%+ eps growth, buying back $1B of their own stock, PE of 10 going forward, yet stock languishes for weeks now at below earnings day close. Average analyst target is $80
HZNP($104) also beat estimates handly, raised guidance, and with 30% revenue & eps growth expected going forward, with a PE of 16 going forward. HZNP has gone down 15% since the high the day before earnings ! Average analyst target is $144, with the latest last Friday by GS at $168 !
If stocks like CPRI and HZNP can't rally remotely close to fair value after such stellar reports and super low valuations, what can ! I have seen many other stocks like CPRI and HZNP that are acting similar ie SONO and RGP. This market IMO is highly bearish regardless of what the indexes say.
