Logiq Inc (LGIQ)

[steeledge]

.40 price target put out by Merriman just 4 months ago.

For this stock, I think it's easy to have too low of a bar set in terms of price targets. Most of us are thinking about that .15 level that investors got in at, but I sure like the sound of .40 better!

Joel Achramowicz, Managing Director of Equity Research, initiated his research report with a buy rating and a $0.40 target price.

"Investment ConclusionSitoa Global Inc. (or,"SGI") has structured an e-commerce cloud platform for supporting niche vendors on the Web. The company has struggled before, but is now enjoying ramping revenues that could lead to profitability in 2-3 quarters. Therefore, we're initiating coverage of this equity for aggressive accounts with a BUY rating and a 40-cent target price. Our price target is obtained by applying a 2-times multiple of our projected sales for FY2013 of $8.4 million."