Today JP Morgan initiated a sell recommendation on LOT with a target price of 13c (-33%) based on…..????? At the same time recommending BOE as a Buy. More games in the ASX U sector.
From Google AI summary
“J.P. Morgan has a complex relationship with Lotus Resources Limited (LOT).They have been a significant shareholder, holding a substantial stake in the company, but have recently reduced their holdings. TipRanks reported that J.P. Morgan Chase & Co. and its affiliates decreased their voting power in Lotus Resources from 6.48% to 5.47%, citing various transactions involving securities lending, rehypothecation, and proprietary trading. J.P. Morgan analyst Milan Tomic also initiated coverage on Lotus Resources, giving it a Sell rating,
Here's a more detailed look: Shareholding Changes:J.P. Morgan Chase & Co. previously held a 6.48% stake in Lotus Resources Limited.This stake has been reduced, indicating a strategic move or change in their investment strategy. Analyst Rating:J.P. Morgan analyst Milan Tomic initiated coverage on Lotus Resources with a Sell rating.
Possible Motivations:The reduction in shareholding could be related to various financial transactions, including securities lending, rehypothecation, and proprietary trading. It could also reflect a shift in J.P. Morgan's investment outlook for the company.”
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