The upgrade is a joke just as much as the downgrades were back in July and August. While the upgrade helps us now, the downgrades by Merrill and Morgan Stanley should never have happened in the first place.
A few of us at that time, discussed that the "valuation" downgrades were nonsense. Now that the stock price is lower by a whole 5 to 10%, Morgan Stanley rates the stock is now a buy! Give me a break! This shows you that the next time these clowns downgrade this one, load up on the drop and be sure they will upgrade within two to three months. I believe this has happened before to FII. I will research it further. I know it has happened to another company BLK.