6/12/2009: Took up 1/2 position today around $1.74 on Phoenix Co. PNX, a relatively small insurance company that provides life insurance and annuity products in the US.
EPS is improving. Most likely PNX will turn out great numbers next quarter, which may be why insider buys were a little active in May 2009. Obama may also give another hand to insurance firms as reported by The Hill, which maygive a small jolt to this sector in the near term.
Three analysts consensus price target at $4.30 in one year. Consider adding another 1/2 position if there is further erosion in share price down to 1.50. Sell price target now is 3.25 if it breaks 2.35 resistance.
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