Now I understand why Citi analyst Deborah Weinswig tried her best to downgrade JCP prior to all this. Now that Citi bought all 18% stakes from Ackman, watch for Citi analyst to upgrade JCP very soon so Citi can sell the shares at much higher prices
If they were to do that, they would instantly lose all credibility on the street. My guess is that they will do the only prudent thing to do. Discontinue coverage of JCP due to "conflict of interest". its been done before.
I won't be surprised if CITI upgrade jcp, or who would buy the shares from Ackman with high price? If we let the market decide, those who really must buy JCP shares can have a better price later don't you think?