Take Your 37-Page Report and...
In a 37-page report published this morning, Citigroup downgraded shares of Ford (F) and General Motors (GM) from Hold to Sell. Looking back at the analyst's calls on both of these companies shows a less than stellar record. The last time the analyst had a Sell on Ford (F) was practically the only time the stock has rallied in the last year. Then the analyst upgraded the stock this Spring right as it was peaking. Regarding GM, the analyst had a Buy on the stock since last September when it was trading in the $30s. When the stock broke $20 in May, the analyst downgraded the stock to a Hold. Since then, the stock has continued its descent, falling through the $10 level, prompting today's downgrade to Sell.
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analysts...in a bull market you don't need them; in a bear market you don't want them.
Posted by: David P | October 08, 2008 at 09:18 PM