DigitalGlobe, GeoEye on Rollercoaster Stock Ride
Yesterday I noticed that DigitalGlobe's (DGI) stock was getting creamed but couldn't find any reason why. And concurrently, GeoEye (GEOY) took it on the chin as well. Both were down yesterday, yo-yoing between 10-20%. Today both have rebounded up 6%-7%. The bad news is already out there about the defense budgets and EnhancedView programs. But, leave it to the Motley Fool, which seems to have a bead on these stocks, to get the answer.
Analysts at Wall Street firm Dougherty & Co. may have a bullish buy rating on DigitalGlobe shares, but it looks like they helped drive today's less-than-bullish action. Dougherty left the buy rating in place, but dropped its price target on DigitalGlobe's shares nearly 40%, from $38 to $23.