Monday, October 13, 2008

dick bove, banking analyst on morgan stanley

this morning as the market rebound from last week's collapse,
banking analyst from ladenburg thalman, dick bove say that ms is expensive at $15 and list a number of items suggesting that the current valuation can not be justified even accounting for earnings into the next 24 months.

bove claims that mitsubishi banks 25% stake in ms for $9 billion is a big mistake and the japanese bank should have bought ms for $11 billion a week ago.

ms traded recently at $15.90

bove was also the analyst who had a buy rating on lehman back in september 2008 with a buy out target of $20 from a korean bank.
lehman went bankrupt less than 10 days after bove's $20 buy recommendation.

paul
 
 
 

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