We would be shocked if that happened. Why would they? Would Goldman pick off plum employees? We'd bet on that one. In any case, Reuters reported that "sources familiar with the situation" say that Goldman won't be a acquiring Lehman.
In other Lehman news, piling on other analyst moves (Citi, Merrill, Goldman, Opco) Morgan Stanley analyst Patrick Pinschmidt ran for cover and withdrew his rating and target for the company. In a 5 page report, with one paragraph devoted to the meat of the note (and the rest devoted to those pesky paper wasting disclosures). "While we will maintain research coverage on LEH, we are removing our rating and price target due to heightened market uncertainty following the company's announcement of 3Q08 EPS results and strategic initiatives." Prior to this report, Pinschmidt had an "Overweight" rating and target of $31.
Lehman Shares Plummet After Analysts Cite Rating Risk - Bloomberg
Analysts see tough 2008 for Lehman, widen loss view - Reuters
Idiot analysts - dont know crap.
Posted by: The Particle | September 11, 2008 at 03:08 PM
Pretty good work from a top tier analyst to announce a 5-page rebuttal on a previous rating...some 2 days before the company goes 11.
Posted by: Boris Hoffman | September 16, 2008 at 02:32 PM