FierceFinanceFierceFinanceITFierceCompliance IT   FierceCIO

Bove switches calls on top banks

Tools
Tags
Banking Industry
Ladenburg Thalmann
Goldman Sachs
Credit Crunch
Richard Bove
Lehman Brothers
Credit Crisis
Merrill Lynch
Morgan Stanley
banks

Richard Bove, of Ladenburg Thalmann, is one of those go-to guys for financial reporters. He gets a lot of ink, for good reason, most would say. He's making news again: He just changed his call on Goldman Sachs, Lehman Brothers, and Merrill Lynch to sell. Sell! He's apparently leaving Morgan Stanley off the sell list for now. The problem, as noted by Fortune, is that that the price of oil now threatens to push rates higher. That hurts the banks with highly leveraged balance sheets. He also believes that banks have suffered some bad news from hedges. This is a bit of a change for Bove. In March, he pronounced the credit crunch over. Earlier this month, he made news again for his bullish outlook. But circumstances have changed.  

For more:
- here's the Fortune item

Related Articles:
Richard Bove bullish on many banks
Analyst: Credit crisis is over

Comments

Post new comment

The content of this field is kept private and will not be shown publicly.

More information about formatting options

To combat spam, please enter the code in the image.