BWS Financial Drops Coverage on Imperial Sugar (IPSU); New Round of Surprises
IPSU Hot Sheet
Rating Summary:2 Buy, 1 Hold, 0 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 19 | Down: 16 | New: 82
BWS Financial drops coverage on Imperial Sugar (Nasdaq: IPSU). The firm had upgraded IPSU to Buy on 5-16-2011.
Analyst, Hamed Khorsand, said, "We have decided, after a new round of surprises from the Company, to drop coverage on Imperial Sugar. Citing a delay in receiving audited financials from its joint ventures, and time required for estimating an impairment charge against assets, IPSU has decided to delay the filing of their 2011 10-K. The Company did disclose certain financial metrics for the fiscal year that could be reported once the audit is complete. Like many, we have been surprised by the magnitude
of everything gone wrong for the Company. Management, by not fully communicating the extent of what is actually going on at IPSU, is being uncooperative and impairing our ability to thoroughly analyze the stock."
"We believe there are risks from variables in the business than hoping
management is able to make right and the shares popping to $10."
To see more ratings on IPSU, Click Here
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Analyst, Hamed Khorsand, said, "We have decided, after a new round of surprises from the Company, to drop coverage on Imperial Sugar. Citing a delay in receiving audited financials from its joint ventures, and time required for estimating an impairment charge against assets, IPSU has decided to delay the filing of their 2011 10-K. The Company did disclose certain financial metrics for the fiscal year that could be reported once the audit is complete. Like many, we have been surprised by the magnitude
of everything gone wrong for the Company. Management, by not fully communicating the extent of what is actually going on at IPSU, is being uncooperative and impairing our ability to thoroughly analyze the stock."
"We believe there are risks from variables in the business than hoping
management is able to make right and the shares popping to $10."
To see more ratings on IPSU, Click Here
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
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