Investing 102

[GregWeld]

Here's another PET PEEVE with Wall Street..... A major rating firm (Goldman) CUTS it's rating on a stock while RAISING the price it expects the stock to trade to.... the REASON for the "ratings cut".... IT HAS GONE UP 36% in ONE YEAR. DOH! Really -- so the stock has gone up 36% and they expect it to go higher!

OMG -- no wonder people go crazy listening to these idiots!

Here's the cut and paste:


Cigarette maker Philip Morris International Inc. (PM) on Tuesday caught a big downgrade from analysts at Goldman Sachs.

The firm said it cut its rating on PM from “Buy” to “Neutral” with an $80 price target, suggesting a 3.5% upside to the stock’s Friday closing price of $77.32.

Goldman defended the move by noting the company lacks any form of near-term catalysts.

Philip Morris International shares, which have gained more than 36% in the past year, fell 38 cents, or -0.5%, in premarket trading Tuesday.