Forum: Wall Street Pit - Msg #1366926 - List BRLC msgs
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Re: files for Chapter 11.--->see you can NOT trust even positive earnings, lo
And obviously not analysts:
April 22, 2008 Syntax-Brillian (BRLC) shares are sharply higher this morning after Robert W. Baird analyst Tristan Gerra raised his rating on the company to Outperform from Neutral. His price target on the stock is $3.
The LCD television maker has been trying to turn around its operations. Gerra contends that an announcement Friday of a plan to reduce overhead 20% and a more targeted customer focus “is paving the way for a simpler business model while reducing liquidity risks.” He’s also bullish on a new deal to shift production of its televisions to the contract manufacturer Compal.
Gerra notes that coming financial restatements are a risk, but contends that the company’s valuation “is compelling.”
Gerra says the chances of bankruptcy “are very low;” he says the company will be able to refinance its debt, lowering its interest expense “significantly.”
He also says that the company is gaining market share in the U.S. television market.
BRLC today has spiked 30 cents, or 28.3%, to $1.36.