Downgrade a stock that is growing consistently at 9-11%. Continuous dividend increases, rock solid balance sheet and IS TRADING AT IT'S LOWEST MULTIPLE EVER.
Where do these Morons come from?
Great quarter as usual. Would like to have seen a better bounce however with the dividend as well as the increase in share repurchase this stock is a buy. Although I would like to see them deploy some of that cash into a major acquisition. Then we could be looking at $100
They do have a tendency to capitulate near the bottoms and tops. An analyst downgrading this quality blue-chip AFTER a significant rapid price decline only serves to highlight their ability to analyze AFTER the stock price already has told the story! Frankly, the fundamental story tells a very favorable story indeed and you have to wonder if the earnings estimates or the stock price is wrong! Accumulate this one on weakness is my advice.
Let me say that i just turned 65 and am now an official geezer on medicare ( F off Blue Crops!!!). I'm an early Boomer.
I need a number of expensive medical procedures that i put off till now, having been self employed and unable to afford them.
Almost every one of those procedures uses one or more BD products.
There is a whole ship load of boomers just a bit younger than me waiting in the wings.
I figure that by investing in BD, i'll get a little kick-back. grin
I'm sure he is telling everyone to buy Citi and Bof A LOL... or AIG Haaaa ! These guys are retards! Did you see Abt today, he will down grade them next, also GILD is smoking buy! Who would sell on this guys downgrade?
In addition to that, they had strong buys on the stock when the price was much higher. When the price is much lower, it is then that they inform you of a downgrade.
So investors are reacting to the opinions of people who are consistently wrong.
Either way, this is a solid business whose earnings equals free cash flow, trading at a decent multiple of those earnings, with cash in the bank and limited debt, where the stock price goes down a little bit everyday.
If you keep buying a little more on the dips you will do well over time.
I am Applesupertramp and I am Steve