(Bloomberg) -- Bonds of Bear Stearns Cos., the
fifth-biggest securities firm, were raised to ``buy'' from
``hold'' by Citigroup Inc. because the bonds became cheap after
the firm offered $1.6 billion to bail out a hedge fund.
In a report titled `Not an Iceberg, Not the Titanic,''
Citigroup reversed a June 11 call that lowered the rating to
``hold'' on New York-based Bear Stearns's 5.55 percent notes due
in 2017. The recommendations are made ``solely on the basis of
valuation,'' analysts led by Ryan O'Connell said in a report.
Read more at Bloomberg Bonds News
fifth-biggest securities firm, were raised to ``buy'' from
``hold'' by Citigroup Inc. because the bonds became cheap after
the firm offered $1.6 billion to bail out a hedge fund.
In a report titled `Not an Iceberg, Not the Titanic,''
Citigroup reversed a June 11 call that lowered the rating to
``hold'' on New York-based Bear Stearns's 5.55 percent notes due
in 2017. The recommendations are made ``solely on the basis of
valuation,'' analysts led by Ryan O'Connell said in a report.
Read more at Bloomberg Bonds News
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