remember..., page-48

commodore, when is UBS research comes out? being house broker, I guess they would be quite bullish?

Merrill downgraded yesterday morning, from buy to neutral, after 1 week coming out saying buy, $1.2 target, guess they are short term traders ?

0843 [Dow Jones] STOCK CALL: Merrill Lynch cuts recommendation on RAMS (RHG.AU) to neutral from buy. "While credit markets have shown early signs of life in recent days, they have done so at significantly higher spreads than we had initially expected and so we now forecast them to return to longer term averages," broker says. "This has led us to increase our funding cost assumptions..." Downgrades earnings forecasts by around 8% for FY09. "...while the risks surrounding the stock have improved in recent days, the recent rally in the share price means the reward for investors is also less given the value support which previously existed has now largely disappeared." Adds while yesterday's announcement RHG is marketing A$250 million RMBS is positive, investors should remember RHG is still required to refinance its A$6.2 billion of extendible commercial paper by February, so "liquidity event is still a real risk for the company."