Celadon Group (CGI): Short Report Creates Opportunity - Aegis

Aegis Capital analyst, Jeffrey Kauffman, reiterated his Buy rating on Celadon Group (NYSE: CGI) after a short seller report raised interesting and thought provoking concerns but ones that are largely repackaged and republished from similar 2016 reports.

The analyst performed primary research on some of the issues highlighted when preparing his Initiation of Coverage report and while some of the assertions are factually accurate, he believes these thesis has used figures in a distorted manner to make a factually inaccurate conclusion.

He also points out that that the source of the short report (Prescience Point Research Group) also is tied to a hedge fund (Spruce Point Capital) with an active short position.

No change to the price target of $15.

For an analyst ratings summary and ratings history on Celadon Group click here. For more ratings news on Celadon Group click here.

Shares of Celadon Group closed at $5.40 yesterday.

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