See AOL Money from today " Gilford Securities Upgrading Entercom Comm. (ETM)
Posted on 10/14/10 at 3:59pm by Roger Nachman
Gilford Securities is upgrading shares of Entercom Communications Corp. (NYSE: ETM) to Buy with an $11 price target, as it sees the company beating earnings expectations for the third quarter.
In a note sent to clients, Gilford writes, "UPGRADING ETM TO A BUY: We anticipate ETM should meet or beat expectations in Q3E and its Q4E pacings should surprise many investors that expect radio's disappearing easy comps to demolish rev. growth in Q4E."
ltf, Gilford Sec, and Jim Boyle, actually downgraded ETM when they were at $5.13, lowering their price target from $9.00 to $6.00 on August 24. Almost exactly the day that Golf Messiah turned negative.
Its taken a 65% rise in share price for Boyle to upgrade ETM from Hold to Buy.
I mean are ANALysts worthless or what?
Can you imagine being a Gilford client, and after selling lets say half your position at five bucks due to the downgrade, you now are supposed to buy it back? Yikes...