Shonstrom Research Raises Speculative Buy For ID Watchdog to Target Price of $1.40

DENVER, Colo. --(Business Wire)-- ID Watchdog, Inc. (traded under the symbol IDW on Canada's TSX Venture Exchange), the leading consumer advocate providing identity theft monitoring, detection and resolution services, today announced that Shonstrom Research Associates, LLC has initiated coverage with a speculative buy rating and a $1.40 price target. ID Watchdog recently completed the only initial public offering (IPO) to take place in Canada during Q3 of 2008. The IPO raised $9 million net for the company (Cdn. $10.2 million). Shonstrom's target is driven by several developments at ID Watchdog, including recent expansion of the company's marketing and business development efforts, which should result in dramatic growth in the company's customer base and increased revenue in 2009. ID Watchdog's marketing initially focused on... [read full story]