This post is in continuation of my forecasting folly series (see here)
On May 4, 2011, Sunidhi Securities came out with a buy call on Crew B.O.S. with a target price of Rs.145.
Then the prevailing price of the stock was around Rs 104 .So the call indicated an upside of around 40%
That buy call turned out to be the kiss of death for the stock.Over the next two years, the stock slid continuously and is now available for Rs. 10.55 !! (There is no indication online of Sunidhi Securities changing its recommendation during this period)
The current market price is actually 7% of the target price set two years back !!
Forecasting folly, anyone?