S&P upgrades Lehman on strength of earnings report

Discussion in 'Stocks' started by ASusilovic, Mar 18, 2008.

  1. Struggling broker Lehman Brothers Holdings Inc. was upgraded to hold from sell by Standard & Poor's Ratings Services Tuesday after the company reported better-than-expected first quarter earnings. Shares of Lehman Bros. had fallen almost 50% Monday on fears that it was facing a liquidity shortage. "We believe LEH is well capitalized despite current market conditions, and we believe it will continue to have ample access to additional funding should the need arise," the ratings action said. S&P also raised its target price for the bank by $17 to $47, or 1-1/2 times the projected book value. On Monday, Deutsche Bank maintained its buy rating on the stock, Moody's Investors Service trimmed its outlook on the investment bank's debt rating and UBS downgraded Lehman to neutral

  2. jsmooth


    that price action we're getting is pretty amazing...down 50% yesterday on 200M volume, and now all the way back up. overal sentiment has went from a bloodbath to pure euphoria in less than 12 hours. amazing