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Standard & Poors Recommends Selling Merrill Lynch (MER)

Posted on Thursday, June 12th, 2008 | In Current Market News, Stocks to Watch
Contributed by: CEO Blogger (http://ceoblogger.wordpress.com) -

Standard & Poors’ analyst, Mathew Albrecht, maintains sell rating on Merrill Lynch (MER):

a. CEO John Thain said yesterday that the firm might sell its stakes in Bloomberg or BlackRock (BLK), which would be less dilutive to shareholders than an outright capital raise.

b. S&P believes a Bloomberg sale would make the most sense, since the BLK stake plays a larger strategic role for the company.

c. S&P believes continued write-downs in the second quarter, which they think may lead to a sale.

d. Target price is $32, about 1.2 times its yearend projected book value, a discount to peers.

Track Mathew Albrecht’s picks at:

http://www.trackthepros.com/categories.php?category_id=382

Last 5 posts by CEO Blogger
About CEO Blogger (http://ceoblogger.wordpress.com)
CEOBlogger helps investors evaluate companies.

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