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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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- pavansut:
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- pavansut.blogspot.com
Well, the chart says it all. When Citi rates a stock buy or hold, we should really sell because the stock will likely go down in price and when they say sell, we should actually buy because the opposite will likely happen! Yes, it perfectly justifies spending thousands of dollars for Citi's stock rating expertise.2008 Oct 09 10:30 PM | Link | Reply -
- directcommu...:
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- • StockTalk (1)
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- Direct Communications
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- Direct Communications
It shows that the motives of the analysts is really not in the favor of the people listening.2008 Oct 11 10:57 PM | Link | Reply
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