John Kosar appeared on Yahoo! Finance / CNBC’s Talking Numbers on Wednesday April 30th to discuss DreamWorks Animations (DWA).
Shares of the media giant had just dropped nearly 9%, making it the company’s second worst day since its 2004 IPO, after it missed first-quarter earnings and revenue estimates.
But despite the sell-off, John Kosar of Asbury Research saw a buying opportunity.
“We’re into some really nice support right around $23 dollars per share,” Kosar said. “I think this is a place to look for value and opportunity. I would wait to see if we hold in here the next couple of days. If we do, I think we could bounce back to at least $26.50 per share.”
The chart below shows that the stock stopped on a dime at $23.00 per share twice, on the day of John’s appearance on April 30th and again on May 8th before rising to as high as $26.57 per share yesterday, May 20th, meeting John’s $26.50 target for a 15% gain in 3 weeks.
You can view the video from John’s April 30th appearance below.
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DreamWorks Animation (DWA) Meets Our $26.50 Upside Target:
May 21st, 2014 at 10:28 am