JPMorgan Chase downgraded to Hold at Stifel Nicolaus (40.74)
Stifel Nicolaus downgrades JPM to Hold from Buy saying the company now becomes somewhat unanalyzable. Firm asks how does one go about assessing the risk contained within the company’s significant derivatives book when they have no meaningful access to anything to analyze and the one thing that made them comfortable with the exposure was the sound risk management behind it (providing benefit of the doubt), which now comes into question?
Joined Nov 11, 2007
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