merryl lynch expects counter offers, page-5

Yep, these Merrill Lynch "analysts" need to be booted downstairs to the mail room for a few years. Here's what they said on 12 September - a mere 21 days ago:-

RAMS Home Loans Group Ltd RHG.AX jumped as much as 11.5 percent to A$0.775. Merrill Lynch started coverage of the mortgage firm with a buy rating and a price target of A$1.20.

"While the liquidity risks surrounding RAMS' extendible commercial paper (XCP) are real, we believe this has been more than reflected in the 72 percent decline in the share price since listing," Merrill Lynch said in a note to clients.

Losers!