Monday, November 28, 2005

Bought 100 shares of ALLSCRIPTS (MDRX)

Due to a recent debt offering Allscripts took a big decline a week ago, trading down to nearly 14.01. This overselling was not called for, its still a good company, even though this debt offering move didn't make much sense considering that they have 90 million in cash.

The stock had a slight bounceback last week but is pulling back today on very light volume. (only 170,000 shares trading hands by 11:15) I see this as an opportunity to pick some up on this weakness. I like the stock up to the point of $16 (about 10% up from its current position), if I run some more conservative numbers I still see it at $15.50 for a short term.

If you're looking at a 1 year range your institutional investors have an average 1 year target estimate of $18.95, lowest being $17, which is very attainable.

I recommend buying this stock at anything under $14.40

I am not responsible for your trade decisions made or not made because of my opinion shared here. You should always do your own research before buying/selling a stock.


At 9:22 PM, Blogger Salbert said...

I don't quite follow that stock. I do think that they overreacted though. I follow retailers and rails a lot though, oh and utilities. FPL and UNP are two stocks both me and Jim Cramer like.


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