UBS downgrades 5 regional-bank stocks 04/13 07:02 AM
BOSTON (Market Watch) -- UBS analysts led by Heather Wolf on Tuesday downgraded several regional-bank stocks, saying they now see "additional headwinds" to the recovery in earnings. "We continue to believe the pace of earnings recovery will fall well short of expectations," the analysts wrote in a note. "We think the recent rally and ensuing valuations are unsustainable, and the group is poised for a meaningful pullback." UBS cut Huntington Bancshares Inc. (HBAN:$5.62,00$-0.41,00-6.80%) , KeyCorp (KEY:$7.94,00$-0.40,00-4.80%) , Regions Financial Corp. (RF:$8.435,0$-0.305,0-3.49%) and TCF Financial Corp. (TCB:$16.29,00$-0.69,00-4.06%) to sell from neutral, while Commerce Bancshares Inc. (CBSH:$40.60,00$-1.44,00-3.43%) was dropped to neutral from buy. All five stocks traded lower Tuesday morning.
AS for myself, I do not believe in this downgrade. At this point I will buy ‘HBAN’ which is the only bank I follow from this list. To buy it around $5.60 will reward the investor nicely.
‘STX’
Analyst Actions: Wedbush Downgrades Seagate to Neutral from Outperform - Shares Lower in Pre Market 04/13 06:03 AM
-- Shares of Seagate (STX:$18.39,00$-0.69,00-3.62%) were down in pre-market trading after the company was downgraded to Neutral from Outperform at Wedbush.
Seagate (STX:$18.39,00$-0.69,00-3.62%) shares .
‘STX’ will reports it’s earning on April 20,2010. By this time Seagate will be trading much higher , therefore I believe that to buy the stock today is an opportunity to make some money within the next week or so.