Smith Barney is the same bunch that deliberately lied to the world about Worldcom. None of these analyst can be believed or trusted. Has anybody thought that they might have a large short position. They ususally upgrade and tell everybody to buy when the stock is at its highest point. Then they sell theirs. There were a lot more people involved than just Jack Grubman at SB and Citi Bank.
Use your common sense earnings are decent for LU and they have many new contracts. This is temporary downslide. Pat Russo said 3 months ago that the bad stuff was over.
They are your typical self interest recommendations. I use analysts as a contrarian investment tactic. As they say the masses of investors are usually wrong, so are the masses of anal asses usually wrong. I rely more on the analysts, as I know their interests are totally biased, IMHO
You are absolutely right about Smith Barney. My broker used to work for them and left to join another company because he couldn't stand their manipulative tactics. They downgraded E-Bay from a buy to a sell in one day. After it sold off,it went steadily up and is up over four dollars today. Lucent will rebound, too. Stay the course.