Tuesday, 23 October 2007

Is Sonae.com an ugly duckling?

Sonae.com was one of the big losers during the last sessions and it is still one of the worse performers of the year within PSI 20 index.
Today, again, one investment house elected Soane.com has a top pick giving it a price target of 5,15€. As a consequence it ended today’s session climbing 3,12%, closing at 3,12%. It was the biggest rise of the day.
If the predicted quote is right a huge valorisation maybe in the way. The truth is that the market is not considering Sonae.com so much since its take over on PT succumbed early this year.
Sporadically, news of an acquisition of PT Multimedia (that is to be spin off from PT as a consequence of the attempted take over) put some spikes in the quote evolution over last weeks but it is to be considered has a long run hypothesis, long enough to let the price slide again and again.
PSI 20 closed fairly bright: up 1,02%.
Sonae SGPS was the second leading title gaining 2,57%. PT and EDP with gains above 1% were the main responsibles for the good performance, in tune with the rest of the world.

Disclaimer: I have a few stocks of Sonae.com.

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