Pachter: 2008 is going to be better for Midway

If you were worried about Midway, what with its rather bloody-looking first quarterly earnings report for the year of 2008, then fret not, as Wedbush Morgan’s own Michael Pachter thinks that this year will be a good year for the company. In fact, his own firm is telling investors to hold on to Midway shares, as they truly believe that they’re going to bring in the dough soon enough. All the details in the full article.

If you’ve read Midway’s first quarterly earnings announcement, then you’d have known that the company is losing quite a bit of dough. Despite this, however, it seems that key people in the industry are feeling optimistic about Midway’s situation.

None other than Wedbush Morgan analyst Michael Pachter saying that he expects the company to perform significantly better this year than last year.

Why is he feeling optimistic, you ask? Michael Pachter reports that his firm, Wedbush Morgan, has been advising investors to hold on to their shares of Midway stock that they might be thinking about selling, adding belief that Midway can indeed bring the bacon home if it can earn revenues above the US$ 300 yearly level.

Pachter also noted about how he thinks Midway have already hit rock bottom in the past, and from there on in, there’s nowhere to go but up. Here’s hoping that that’s true – we certainly wouldn’t want to read about the company who brought us our fondest memories of fatalities and animalities to go under. Updates as we get them.