Morgan Stanley Ups To Overweight - a few words about that and why i am short..
For those that dont use TipRanks (a free Browser plugin i highly recommend), here are the statistics you should know before following Morgan Stanley:
The analyst is Adam Holt since 2009 his average return per recommendation (Buy/Sell) was -4% below the S&P500
His success rate is only 33% ( out of 21 recommendations he made since 2009 only 7 outperformed the market)
Whe a guy like him tells you to Buy something its time to sell....
Morgan Stanley and a handful of the other uber-large analyst/bankers have traditionally held a target price way beyond what the shares ever see. The single biggest concern of the last few weeks is that some of these analysts are coming out BEFORE the company call next week. This is often a bad Omen. Instead of waiting to get the facts, these guys are bloviating and hyping in advance, that often time means they have an interest in pumping the price, which often leads to a sell-off.
I'll say it again for anyone new to the message: This company is a titanic with an 8 year failed history, is behind the curve in new technology areas and continues to loose share to competition. Nothing major is going to change this in the near term to fix the multitude of challenges and problems it faces, let alone improving growth prospects any time soon. The editorials and analysts are stirring themselves up and the stock price is getting way ahead of itself. All hype and expectation has now been baked into the price. If the shares go much higher then investors are simply being set up for a crash to the downside, either after the call or else later this year when reality sets in as to the actual condition of the company becomes more apparent.
Stay protected if long and don't get sucked into the hype.
Let's not forget about the poster (no names) who told the board that Symc was overpriced and to sell. That was in Nov, 2012 when the stock was $16.44. I replied at the time that I disagreed with that analysis. Glad I stayed the course. cheers