A Quick Look at Historical CFC Calls From Merrill and FBR

With plenty of attention being paid to Merrill's Buy to Sell downgrade of CFC today (after reiterating a Buy just two days ago), below we highlight their historical calls on the stock.  The blue area represents the period where they had a Hold on the stock, and the green area represents the period that they had a Buy rating on the stock.  We also provide the historical CFC calls made by Friedman, Billings, Ramsey & Co., the top rated analyst according to Bloomberg's BARR ratings.  As shown, FBR had two timely Hold downgrades in January and May of this year, and a timely Sell downgrade on August 2nd.