alingtonsky
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Citigroup ha alzato oggi il suo rating su Lehman Brothers (US5249081002) da "Hold" a "Buy" Secondo Citigroup l'attuale valutazione del titolo della casa d'investimento sarebbe estremamente attrattiva. Lehman Brothers avrebbe abbondantemente liquidità a disposizione. Lehman potrebbe infatti sia ricorrere alle sue proprie riserve che alle risorse della Fed. Citigroup indica inoltre che Lehman ha messo a segno una solida performance durante lo scorso trimestre. Citigroup crede che Lehman chiuderà anche l'intero esercizio con un risultato positivo.
http://www.borsainside.com/mercati_usa/marzo_2008/20080328_leh_citi.shtm#
Citi's Bhatia says that Lehman has "ample liquidity to run its business."
"In our view it's tough to have a liquidity-driven meltdown when you're being backed by government entities that have the ability to print money," Bhatia goes on to say in the note. Lehman currently has $34 billion in liquidity, access to more than $200 billion in liquidity from the Fed's primary dealer credit facility and the ability to tap the term auction facility, according to Bhatia.
"Actions speak louder than words and a post Bear Stearns era, the coordinated Fed [and] Treasury actions are designed to prevent a crisis of confidence leading to liquidity issues for any of the major investment banks," he writes. "The liquidity backstop buys the time necessary to restore confidence and quell fears that are not based on fundamentals."
In addition, Bhatia says that writedowns aside, Lehman had "its [second] best fixed income trading quarter ever."
http://news.moneycentral.msn.com/ticker/article.aspx?Feed=AP&Date=20080328&ID=8374640&Symbol=LEH
Analyst Prashant A. Bhatia said the New York investment bank will not run out of cash because it can tap its own reserves and Federal resources. He added that the current stock price is "extremely attractive," and the bank's fiscal first quarter was strong in a difficult environment.
"Reality will trump fear," Bhatia wrote.
http://www.bloomberg.com/apps/news?pid=conewsstory&refer=conews&tkr=LEH:US&sid=aE3RjYuGpQhs
http://www.thestreet.com/story/10409754/1/lehman-shares-boosted-by-analyst.html?puc=newshome
http://www.borsainside.com/mercati_usa/marzo_2008/20080328_leh_citi.shtm#
Citi's Bhatia says that Lehman has "ample liquidity to run its business."
"In our view it's tough to have a liquidity-driven meltdown when you're being backed by government entities that have the ability to print money," Bhatia goes on to say in the note. Lehman currently has $34 billion in liquidity, access to more than $200 billion in liquidity from the Fed's primary dealer credit facility and the ability to tap the term auction facility, according to Bhatia.
"Actions speak louder than words and a post Bear Stearns era, the coordinated Fed [and] Treasury actions are designed to prevent a crisis of confidence leading to liquidity issues for any of the major investment banks," he writes. "The liquidity backstop buys the time necessary to restore confidence and quell fears that are not based on fundamentals."
In addition, Bhatia says that writedowns aside, Lehman had "its [second] best fixed income trading quarter ever."
http://news.moneycentral.msn.com/ticker/article.aspx?Feed=AP&Date=20080328&ID=8374640&Symbol=LEH
Analyst Prashant A. Bhatia said the New York investment bank will not run out of cash because it can tap its own reserves and Federal resources. He added that the current stock price is "extremely attractive," and the bank's fiscal first quarter was strong in a difficult environment.
"Reality will trump fear," Bhatia wrote.
http://www.bloomberg.com/apps/news?pid=conewsstory&refer=conews&tkr=LEH:US&sid=aE3RjYuGpQhs
http://www.thestreet.com/story/10409754/1/lehman-shares-boosted-by-analyst.html?puc=newshome
