" Translation: "After upgrading NLS to a BUY on 09/19/2005, when it was trading at $24+, we are now downgrading it to a HOLD at $15+ and recommending that investors sell at today's drastically undervalued price, take the 37% loss that our earlier call cost them, "
"Sheeze, how do these analysts stay in business?"
A lot of people seem to be confused on this point. Sell-side analysts aren't paid for accuracy, they're paid for sucking up to potential investment-banking customers.
Salespeople are paid to sell stuff, not to give accurate advice to Joe Public.