On Nov. 27, 2007, with the stock selling for 25.75, JP Morgan issued an overweight rating on Westar Energy. On Sept. 24, 2009 JP Morgan issued a neutral rating on Westar Energy. The stock opened today (Sept 24th) at 19.73, an approx. 24% decline from their previous overweight recommendation. The whole time the stock was declining they remained silent. And now, with the stock "on sale" by 24% from where they said to buy it, they are neutral. And to think these guys are paid big bucks to issue nonsense like this.
That's how they get their customers to trade stocks more often. Generates commissions. Of course there's always the possibility of an eyewink of uderhandedness; their friends may have shorted it before the announcement.