Innovalues Reached Heartland Boy’s Target Price
Innovalues has been on a tear ever since it announced on 7 April 2016 that it had appointed Rippledot Capital Advisors to “conduct a review of strategic options with a view of enhancing and unlocking shareholder value”. On 18 April, Innovalues exceeded Heartland Boy’s target price of $1.03 when he purchased it in late Dec 2015. (For readers who are interested, they can read Heartland Boy’s initiation report on Innovalues written this January here)Diagram 1: Innovalues has surged 36% since Heartland Boy bought it on 29 Dec 2015
However, after the announcement of Innovalues’s full year results in February 2016, Heartland Boy re-evaluated and raised his target price to $1.11. At the current price of $1.08, Heartland Boy thinks that his revised target price might be breached in no time. It is also worthy to note that $1.......