The Least Helpful Call Today
The Least Helpful Call you will receive today is so un-helpful as to be almost unbelievable.
But since we here at NotMakingThisUp strive not to make things up, well, here goes:Barclays is today upgrading Varian from “Underweight” to “Equal Weight.”
For those of you who recall something about Varian being lately in the news, you are correct. Just yesterday, the medical and scientific equipment maker announced it had agreed to be acquired by Agilent Technology, for $52 a share.
Varian’s stock rose $11.41 yesterday to a closing price of $50.61—bringing its total gain from its March 9 low of $19.83 to a healthy $30.78.
Apparently, the sudden move from “Underweight” to “Equal Weight,” after $30.78 a share in gains in the last four months, is due to the fact that there’s still $1.39 a share in gains to be had, assuming Agilent gets the necessary approvals to complete the tender by the expected close of December 31.
Which is why the Barclays upgrade of Varian is, we have no doubt, the Least Helpful Call you will receive today.
Jeff Matthews I Am Not Making This Up
© 2009 NotMakingThisUp, LLC
The content contained in this blog represents the opinions of Mr. Matthews. Mr. Matthews also acts as an advisor and clients advised by Mr. Matthews may hold either long or short positions in securities of various companies discussed in the blog based upon Mr. Matthews’ recommendations. This commentary in no way constitutes investment advice. It should never be relied on in making an investment decision, ever. Nor are these comments meant to be a solicitation of business in any way: inquiries will be ignored. This content is intended solely for the entertainment of the reader, and the author.