I saw this analyst comment on Briefing.com earlier today and it’s been bugging me ever since:
11:41AM Open Text reiterated Strong Buy at Southwest; target goes to $45 (OTEX) 29.76 -3.86: — Update — Firm believes that the high short-interest of approx 35-40% of the float may act as a catalyst for the stock. Price target goes to $45 from $34 after co reports strong software growth and increased guidance.
A firm citing a potential short squeeze as a reason to invest??? That’s such a ridiculous call. Gee, I wonder if Southwest, or their big clients are long OTEX? Or perhaps they’ve run out of fundamentally based investment ideas. Maybe the shorts are right and the stock is/was over-valued. Let the buyer beware!
