7:04AM Early Research Calls : Merrill Lynch adding BRL to Focus One List; also upgrading UTEK to Buy from Neutral... UBS upgrading VSEA to Buy from Neutral... JP Morgan upgrading CSX and PLMO to Neutral from Underweight and NSC to Overweight from Underweight; also downgrading ROH to Reduce from Neutral and initiating coverage on PNRA and XMSR with Overweight ratings, while starting SIRI with a Neutral... Morgan Stanley upgrades NCR to Overweight from Underweight, while cutting CDIS to Underweight from Equal Weight... Smith Barney upgrading RF to Hold from Sell... Raymond James upgrades EDO to Strong Buy from Outperform... CSFB cutting SUN to Underperform from Neutral... Piper Jaffray initiating coverage on MRLN with Strong Buy and $21 tgt, calling the co a big opportunity in small business finance (note: recent IPO).
I confess neutrality on PNRA right now but Morgan Stanley's overweight on XMSR in the same post is a caution. The stock pattern says to prepare to short XMSR on any break. Its technnicals are down. And Morgan Stanley has not been a major holder during the year's doubling, on either XMSR or PNRA. Maybe they are desperate.
PNRA needs to either break 40 or work sidewase for a week or two before it can become a buy.
Yeah, I'm just staring at PNRA right now. I'd have to get a price up near $50/sh. to short it as things stand now. It's important to short when a stock seems extremely ridiculously overpriced, not merely overpriced. I hope that citation makes a lot of $$$ with his purchase at $37.xx/share even though I believe it a bit more likely that he won't.