Despite an earnings-day share price plunge, some analysts believe the tough times are nearly behind SMS Management and it could be a stock to target on the rebound.
While shares in SMS Management & Technology plunged from the previous day’s close of $4.22 to hit an intraday low of $3.72 on August 20, the day it delivered its 2013-14 result. Some analysts believe the tough times are nearly behind it and it could be a stock to target on the rebound.
The information technology services provider had a stellar run post the global financial crisis as its shares increased from about $1.70 at the start of 2009 to hit a high of $7.20 in early 2010, representing an increase of more than 300 per cent. It remains to be seen whether the company can produce a similar rally when business investment in the IT sector recovers.
