National Bank of Greece (NYSE: NBG)
This one has been fun and I hope people took my advice - the buy anything under $9.50 price threshold. I did - though not as much as I'd like to, but always better to wish you bought more than wish you bought less. NBG is trading at $10.24 today, up on the news of an upgrade from an analyst saying it's Athens Stock Exchange counterpart has a target of 48 Euros (currently, it is around 42 Euros). The ADR (see prior blogs) represents 1/5 of an actual share of NBG in Athens. So, to basically get the price per share of an ADR, take the price in Euros, divide it by 5, and take the quotient (the answer) and multiply by the exchange rate (e.g., # of dollars per 1 euro; currently, US$1.296 = 1 Euro). So, if 48 Euros is where it's heading, NBG will be trading at around $12.40-$12.50. I think NBG is headed to $15 in 2007 and has the potential to be $60-$70 in the next several years. We'll see - in the mean time, I am enjoying the upgrade and am raising by slash and burn target - anything under $9.90 is a buy.
Inforte (NASDAQ: INFT)
One of my more frustrating holdings, but I feel has the best chance to be a double or triple in 2007 - most likely related to some form of a going private offer or just pure value. I added to my position at $3.58-$3.59 the other day (it's currently at $3.67 - not a huge gain, but I sure love stacking nickels). The biggest development is that one of their larger institutional holders, Royce & Associates, purchased an additional 50,000 shares during the past 3 months, bringing their total holdings to 1,090,600 and on January 31, they will be announcing their financial numbers and having a conference call at 4:30pm. I will be certain to be listening in on that and see if any developments happen, but I think we are going to have to wait until the Summer or Fall of 2007.
Wednesday, January 24, 2007
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