Downgraded 3 times in the last 12 months. Somebody at the top of WNR must have banged somebody's girlfriend at Bank of America. This is now entertaining to see the manipulation in the stock. Lets just wait for Q3.
UPGRADES & DOWNGRADES HISTORY Date Research Firm Action From To 12-Sep-07 Banc of America Sec Initiated Sell 23-Jul-07 UBS Initiated Reduce 19-Jul-07 Credit Suisse Downgrade Neutral Underperform 4-May-07 BMO Capital Markets Downgrade Market Perform Underperform 11-Apr-07 Bear Stearns Downgrade Peer Perform Underperform 31-Jan-07 BMO Capital Markets Initiated Market Perform 18-Dec-06 Banc of America Sec Downgrade Neutral Sell 5-Oct-06 JP Morgan Initiated Underweight 10-Aug-06 Banc of America Sec Downgrade Buy Neutral
It is absurd! Look at Valero...no big sell recommendations. WNR certainly looks strong on a fundamental basis and technically. So Valero has got the sour crude thing covered...America still isn't building any refineries anytime soon. These analysts are idiots.
The analysts aren't idiots... they just want to drive the price down so they can pick it up cheap! There should be a law against them doing this but it gives me the chance to pick up more shares. I'm in for the long haul and expect this stock and VLO, TSO, FTO etc to be an excellent investment for the long term!