Eliot Spitzer backs analyst-ranking firm
William L. Watts
NEW YORK (MarketWatch) —Fresh off a failed attempt to return to politics, former New York Gov. Eliot Spitzer is looking to capitalize on his reputation as the scourge of Wall Street analysts by backing TipRanks, which describes itself as a financial accountability website.
In a news release, the Israeli tech startup on Tuesday announced an “open beta launch,” following the closing of a $3 million funding round. TipRanks says it ranks more than 6,500 analysts and bloggers based on their success rate of financial advice, average return, and consistency.
TipRanks, for example, places Elaine Kwei of Jefferies at the top of its analyst rankings, with a “success rate” of 93%.
Plugging Apple stock AAPL -0.58% into the firm’s search engine, meanwhile, returns an average price target of $151.19 a share, representing upside of around 60.3%, and an “all analyst” consensus recommendation of moderate buy, based on 64 analyst ratings. It further breaks down the consensus, noting there are 52 buy ratings, 9 holds and 3 sells.
http://www.marketwatch.com/story/eliot-spitzer-backs-analyst-ranking-firm-2014-07-22?siteid=YAHOOB
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