From Business Insider:
A Wall Street analyst, Jordan Rohan of Stifel, has raised his price target on Amazon to $400 a share.
This target hike comes in the wake of another explosive move upwards in Amazon's stock price and another Amazon quarter that befuddled Wall Street. (Rohan was excited about Amazon's quarter, saying it beat expectations. Other analysts say the quarter missed expectations. Regardless, the stock exploded to a new all-time high.)
Given that Amazon is now trading at $360 a share, a price target of $400 would not be notable except for the fact that this is the same famous price target another analyst put on the stock 15 years ago, way back in 1998.
That analyst was me.For folks who were at the market ca. 1999 seeing that picture under that headline is almost enough to make one laugh out loud and say "Henry, all is forgiven".
Amazon's stock has split several times since then, so today's $400 is not the same as the 1998 $400. (The 1998 $400 is equivalent to $67 in today's Amazon stock). Also, although Amazon's stock briefly blew through my 1998 $400 price target in 1999 and 2000, it then cratered and spent 7 years in the wilderness. So this is not a humblebrag....MORE
That said here are two of the great posts about Mr. B, one from me and one from Alphaville:
Bank of America Cruelly Brings Up SEC in First Line of Response to Henry Blodget; Dick Bove and Chris Crocker Comment (BAC)And one not so great:
FT Alphaville » Help feed Henry Blodget
Climateer Headline of the Day: Of Course There's A Chinese Wall at These Firms Edition
Having as much of a sense of humor as Mr. Blodget exhibits is almost touching and I won't mention GoTo.com again.
Now about InfoSpace...