Couple of notable stocks:
- Allscripts (NASDAQ:MDRX) is down 25% in pre mkt trading after reporting results that were below expectations. There is some pretty nasty analyst commentary out there with Deutsche cutting their rating and Piper Jaffray cutting their tgt to 19.45 from $29 (also removing from Alpha List, keeps Buy).
The backlog didn't look good but I suspect that here @ $11.70 it's all discounted (and then some). So I have made a small purchase there.
Going against consensus here like I did with NILE yday.
The stock is a mean bouncer and has a close to 25% short interest.
- General Probe (NASDAQ:GPRO) is down following earnings but given very positive analyst commentary this morning I think it's a good bounce candidate.
BofA is out with call titled: GPRO: Go! Go! Go! Go! Go!; Buy With Conviction. Their tgt is $74.
Firm notes GPRO's operating cash flow surged 39% in 4Q07, to $38 million, which topped our $32 million forecast. Free cash flow = 1.6 times net income.
Also, Cowen & DB are very pos on the name. It's down 3+ pts in the pre mkt and I suspect it's a good buy point.
NC
