Sponsored Links 
Sell Satyam - Target Suspended
With the arrest of both Satyam Computer Services Ltd.'s (SAY - Analyst Report) ex-CEO and ex-CFO, the interim management announced that it'll make all attempts to clean up its books and appoint a new auditor. A new Board has been formed to spearhead the task of salvaging the company, and three members have already been appointed by the Government of India itself.
A majority stake sale is currently being undertaken, and the Board of Directors announced that it will release the Request for Proposals (RFP) to all registered bidders. Previously, the Indian government announced that it would not step up to help Satyam with any financial assistance, citing the company's current receivables of approx. $350 million.
Given the recent developments, we had earlier downgraded SAY shares to a Sell and have suspended our estimates and target price.
 |
 |
 Share |
 RSS |
 Rate Pos |
 Rate Neg |
 Comment |
|
|
||||||
Free Stock Analysis From Zacks
Includes Zacks Long-Term Recommendation and Target Price
Loading Stories...Related Content
Best Stocks. Best Insight. Join Now...it's FREE!
Over 550,000 investors look forward to the timely insights in our email newsletter; Zacks Profit from the Pros. In each daily issue you will find:
- Free Four Zacks #1 Rank "Strong Buy" Stocks
- Free Timely Market Commentary
- Free Wealth Management Tips
- Free Profitable Strategy Screens
- Free Bull and Bear Stocks of the Day
Zacks FREE Registration
X Close
Loading Stories...Most Popular on Zacks.com
0.82 %
More Zacks Resources
Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.
Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.
Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.
My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.
More Zacks Links
| Market Summary | Feb 10, 2010 10:17 am ET |
-62.13
[CLICK TO CLOSE X]