BEST call of 3/1/07: Upgrade from Underperform" to Peer Perform with the Bear Stearns analysts seeing downside risk limited to $10 to $11, but upside if business stabilizes and liquidity improves.
2/23/07 - UBS, with the emphasis on BS, upgraded NEW to Neutral from Reduce with a price target of $17, saying liquidity risk is ok near term. HA! UBS = U Be Screwed.
Some analysts had the sense to jump off the sinking NEW ship on 2/8, the morning after the company promised it would have to restate results; this included downgrades from MLCO, JEFF and FRBC, but a lot of good that actually does for investors to get downgrades on the morning of the hosing as opposed to beforehand. In looking back at major analyst history of NEW, the only major downgrade of note came from STFL way back in October.
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