Yesterday, PositiveID Corporation (OTC:PSID) announced Vista Partners had initiated coverage on the company. The market seemed to have a positive response to the press release.
PSID closed up 17.65% at 20 cents per share. The volume was 465 thousand, significantly higher than the average for PSID.[BANNER]
In its report, Vista Partners gives PSID a twelve month target price of $0.70. There doesn’t seem to be anything new to base the target price on.
Traders who have been keeping an eye on PSID would know the company could potentially make a lot of money, although it hasn’t been able to generate a dime of revenue in the past year.
An optimistic view on the potential of PSID can obviously help the share price at the moment, but PSID will have to deliver on its potential if it is to reach the target price.
