The consensus forecast for KIO has been a 'sell' since 16 Feb '09. The price has risen from 162.00 to a high of 280.00, reached on 21 Sept '09. After a slight retracement the price seems to be surging ahead; iron ore prices, along with demand,seem to be on the rise again,yet the recommendation is stuck on 'sell'. My question is whether how much,if any,importance should be placed on such recommendations?
*$%@ all, IMO. Its a great stock, although it is in a bit of an ambush zone technically. It has bounced hard, but is now in a 50-50 situation. Here is a tip for you - keep up to date on the Grindrod announcements, they will tell you straight away what is happening in the ironore industry since they ship the stuff.
last year everyone had the opposite view. strange how we percieve an increase when govts are still pumping the billions to sustain economines, US deficit almost equal to GDP and unemployment poised to rise to 13% by next year...recovery ???