Thomas Weisel Analyst Throws In The Towel On Cendant (CD)

After reiterating his buy rating 19 times over the last year in a period where the stock declined over 30%, the Thomas Weisel analyst who covers Cendant (CD) decided he couldn't take it anymore and downgraded the stock:

To the analyst’s credit however, he wasn't alone in loving Cendant. After his downgrade this morning, of the 10 analysts covering the stock, seven have buy ratings, three have it rated a hold, and zero have it rated a sell. One year ago (when the stock was at 23), analysts were even more bullish on the stock as every analyst who covered it had it rated a buy.