Position Updates: WB, POT
A tale of two cities, in a sense.
Deutsche Bank upgrades Wachovia (WB 28.69) to Buy from Hold and raises their tgt to $35 from $29, given a view that recent capital actions are the last and a stock price that trade at only 80% of est. franchise value of $35/share
RBC downgraded POT to Outperform from Top Picks with a $300 tgt based on recent share price appreciation. Since the announcement of the Indian potash contract on March 20, 2008, the firm notes POT’s shares have appreciated by 34%. Firm says their positive fundamental outlook for PotashCorp remains unchanged. The firm also says looking forward over the short term, the news flow is likely moderate with the next focal points being (1) PotashCorp’s Q2/08 earnings release on July 24, 2008, and (2) further spot potash price increase announcements likely in Q3/08 or Q4/08.
Morgan Stanley see big bank woes just beginning:
http://biz.yahoo.com/rb/080428/banks_research_morganstanley.html
April 29th, 2008 at 9:43 amWe aint seen nothin’ yet:
http://online.barrons.com/article/SB120916362804146087.html
Long way to go until bottom. See Page 3.
April 29th, 2008 at 9:47 amBattle of the high IQ’ers
In one corner; wearing wings powered by plutonium
The Fly - short China, short Ag
In the other corner; wearing a bowtie made of hemp
Jim Rogers - long China, long Ag
Place yer[sic] bets
note: In the great minds think alike, sometimes, department; Rogers is long China travel & The Fly is long CTRP, which is setting up technically & this internet retard will be accumlating said shares. 55 looks to be the ideal entry, however unlikely.
April 29th, 2008 at 9:53 am