GS should be reported to the SEC - someone knew yesterday they were coming out with a sell rec today - there should be an investigation what their position was in the stock - there is supposed to be a Chinese wall between the analyst and the trading desk.
Of course someone, more than one, knew. Yesterday's performance was a clue. The real question is: In view of no negative news or impending problems, what does Goldman know to lead them to a "sell" rating?
THE ANALYSIS: Wienkes wrote that Itron is well-positioned to cash in on that market, but sees a slowing in new contract awards in the near term. That means Itron will need to see significantly higher bookings next year to sustain results in 2012.
"We see a slowdown in 2010-2011 awards setting a high bar for Itron to repeat what should be a record 2011 again in 2012 or 2013," Wienkes wrote.
He anticipates that the lower contract volume will lead 2012 earnings per share to fall 24 percent to $3.25.