In August 2000, shares of Enron, which was at the time one of the US’s greatest corporate success stories, hit an all-time high of $90.56. The company’s shares came off this high and then traded in a range for several months between $70 and $90. Of course, at this stage there were few who realized what would happen to the company over the next 12 months. Buy Enron I recently stumbled across a research note, issued by Bear Stearns on January 26, 2001 recommending Enron to clients, and it makes for interesting reading. Across more than 80 pages Bear’s analysts…
[From the archives] Buy Enron: $98 Price Target
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