Will the Barron's article wake the sleeping giant.?....
As stated months back UBS servers were busy with accumulation of GNW stock after UBS started Genworth at neutral, previous history since 2004 shows that firm goes from neutral to buy and downgrades to neutral when they sell. Now you have to forgive them for 2008 just like all the other banking/financial firms that sent the global economy down the black hole, life goes on.
Now genworth is a analyst checklist for upgrade, go from neutral to buy after accumulating shares for client(s), worst if over for Genworth, the street loves our new CEO, CEO gave then the off books deal for USMI, real eastate and MI business is recovering, selling two divisions for 400M-450M and Ausi IPO puts Genworth back in a position to shore up balance sheet, buy stock back and start a dividend program 2014 as earnings start to go up Qtr over Qtr/YOY.
It is the truth, even after the run up in sp to $9's, GNW stock is still a bargain lt and is in a perfect sp range for a upgrade to buy from UBS, a buy rec from UBS will easily push the stock up 20%+ st...IMO. As many of you know, it could be why Barron's is now publishing this article, for the masses to see credibility from an old wall street rag and a UBS upgrade to buy.
Genworth now has all the ingredients for a institutional upgrade; less risk lt, leadership with new CEO and its still a value, not to mention UBS owns the cheaper shares.
Just do it Suneet Kamath, you know I'm always right!!!!!!!!!!!!
If I recollection is correct, the last time the stock received some attention the analyst was suggesting a fair value was around $11 and the the SP responded accordingly. Now a couple months later we have another touting $18. It would be great to experience another increase to strengthen the trend between analyst and the market.