Some folks get terribly excited about broker research reports. Henry at JP Morgan upgrades his stance from overweight to buy, Goldman’s removes a stock from its Conviction List but still rates it as buy. You know it all means sweet FA. Sorry to market reporters who fill column inches with this stuff but it is meaningless.
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Comments
punilux
Perhaps I only remember events because they appear to be “strange” rather than “normal”, but don’t quite a few shares rise within seven days of a well publicised sell ? Drax, Prudential and Easyjet spring to mind but I’m sure that there are dozens more.
dumpling
I have noticed over the years that when a share has steadily increased over the months brokers give a belated recommendation to BUY. The share often then drops sharply in value. Conversely, when the share has been dropping along come the SELL notes, often followed by a rise. That makes me a contrarian investor.
john m s
Quelle suprise, Brokers are marketing people, only engineering types ask the question “who sold you that then?”