UBS are a bunch of dirty dogs.
2 days ago, this was their recommendation...
UBS 20-Aug-13
UBS has downgraded its rating of Paladin Energy to Neutral from Buy to account for the dilution of the share price arising from its announcement to raise 15% of its capital in an issuance.
The brokers full valuation of Paladin drops 10% to $2 per share.
The broker has slashed its price target to 70c from $1.20 - a 30% discount to net present value - believing a rise in uranium demand will be needed before the company stages a turnaround.
Downgrade to Neutral from Buy
At least I got to pick up some at 59c.
Ann: Becoming a substantial holder , page-8
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