One of the strangest downgrades that I have ever seen. Especially in the current global economy. Found this on Briefing.com:
JPMorgan downgraded its stock-investment rating on Turkish telecom company Turkcell Iletisim Hizmetleri AS (TKC) to neutral from overweight and cut its 12-month target price. "Despite a still attractive absolute valuation, outstanding balance sheet strength and still quite favorable operating outlook following its strong outperformance of the CEEMEA telecom sector in 2008 - we no longer believe Turkcell is one of the most attractive stocks in our coverage universe." Shares fell 6.9%, to $14.27.
Ummmm HUH what? Why doesn't the analyst feel it is one of the most attractive stocks??? The three outstanding qualities of TKC mentioned above are pretty rare to find in most stocks these days.