OGC : Long Term Buy – Target 70-75, within 18-24 months.
February 21, 2011 Leave a comment
Ocean Glass, (OGC) is a darling of value investors, or at least it used to be. With very low daily turnover it is not worth to trade it for short term gains, but a buy and hold it is worth some consideration in our view.
Currently trading at 46.50, it should hit 50 in the near term, and on to 58 before too long. We think it will rally past its long term and primary down trend line at 68 (and falling) late this year or early next, with 70 to 75 a valid target for an 18-24 month buy and hold.