Crystallex stock edged up 5.5 cents to finish Wednesday on the Toronto Stock Exchange at 54 cents. The Post reported on Jan. 6 that Haywood Securities analyst Kerry Smith was dropping coverage of Crystallex. His final target price for the shares was 20 cents. It was then trading at 39 cents

If you listen closely, you can hear the sound of Kerry Smith eating his words..

Analyst schmanalyst

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Like many well publicized analyst recommendations, especially those promoted on the Financial Post blog. it served as a good contrary indicator.

If you are dropping coverage of a stock, then drop it and go away quietly. Why announce it to the world with a big long explanation and a target price?