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How the Bulls Changed Their Story -- Part II

long discussion of CPN; piece below, hyperlink to full story

"Craig Shere, an analyst at Calyon Securities, has been deft in his calls on Calpine lately, downgrading the stock near 4 in early August and upgrading it at 2.75 Aug. 24. It's up 16% from there to 3.20, and he thinks the stock can get to 5, based on an options-based valuation that presumes Calpine will be viable at least through 2009 -- which will require meeting almost $4 billion in debt maturities in 2007 and 2008."


http://online.barrons.com/article/SB112690759049643466.html
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