Oh dear. How Canaccord must wish that it still had a proper analyst covering Quindell (QPP). But Kevin Ashton asked too many hard questions of Rob Terry and so found himself on gardening leave. His replacement – Arun George – published a 54 page note yesterday (slashing his target price by 70% and slashing earnings forecasts – see HERE) but absolutely tied himself in knots on PT Healthcare. This is a shambles from the house broker and begs even more questions.
Arun states on PT:
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