Analyst Nonsense

A few analyst notes stuck out today:
  • Gilead had some data out this weekend that was mixed, but better than feared. The analysts with a buy invariably looked at the data as positive while those at neutral invariably found what not to like. It is an amazing phenomenon that I find regularly.
  • Bank of America was a Goldman Sachs Conviction Buy when the stock trade at $19 three months ago, but at a 25% discount it no longer merits the rating, as the stock was taken off the conviction list today?

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