Josh hit the nail right on the head. I saw the downgrade, but it came with a price target increase. Just a way to get the market to churn. This ought to be illegal. If the firm is downgrading, it should follow with a lower price right then and there. It is like he is saying it might go down……but, it might go up. The same firm just upgraded the stock a few days back.
What exactly changed in three days over the weekend? I think some of these guys are either crazy or just plain able to swing markets and benefit from it. I could be wrong, but I want to know the rationale for last week’s story and how things made a turn for the worse in a weekend….. During that weekend, GE posted sales of a few pieces of GE capital and today sealed the deal for Metem, filed for SIFI removal, and a host of other good news.
It could also be a way to push the stock lower in order to allow the company to pick up shares through the buyback when the funds are allowed to be used. Seems like the government has the hands of GE tied in a few ways, and when, and if the ties come off, we should see a move to the upside. Hopefully, earnings are good.
Robert the DividendDreamer
AKA — Seeking Dividends
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AKA — DividendDreamer