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Seeking Alpha (Free subscription) | 04/21/2008
FP Trading Desk submits: Despite a rough March, Merrill Lynch & Co.’s (MER) underlying core trends looked great, according to Citigroup Prashant Bhatia, who highlighted the firm’s $1.8-billion in fixed income revenue, and $1.6-billion in equities revenue, excluding write-downs. And while some think the investment bank should raise billions more in capital to bolster its balance sheet,...
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Market Watch (Free subscription) | 04/01/2008
BOSTON (MarketWatch) -- Citigroup Global Markets on Tuesday reiterated its buy rating on shares of Lehman Brothers Holdings Inc. after Lehman said it plans to offer 3 million of convertible preferred shares to bolster its capital position and financial flexibility. Prashant Bhatia in a report said the capital raise will reduce leverage, and estimated earnings-per-share dilution of less...
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The Street (Free subscription) | 03/28/2008
Citi's Prashant Bhatia called it a buy and downplayed liquidity concerns that hit the stock hard Thursday.
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The Street (Free subscription) | 03/28/2008
Citi's Prashant Bhatia called it a buy and downplayed liquidity concerns that hit the stock hard Thursday.
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MarketBeat (Free subscription) | 03/28/2008
While one banking analyst continues to rain thunderbolts upon the financial-services companies, another took the road less traveled, upgrading Lehman Brothers Friday, effectively conceding that it would be hard for the credit environment to get much worse. Citigroup’s Prashant Bhatia boosted shares of Lehman to a buy rating from a hold recommendation held by the firm [...]
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The Earth Times Online Newspaper (Free subscription) | 03/28/2008
(Reuters) - Lehman Brothers Holdings Inc has ample liquidity to run its business and will generate positive earnings and grow book value per share this year, said Citigroup analyst Prashant Bhatia, who upgraded the stock to buy from hold on valuation.
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Compete (Free subscription) | 01/15/2008
In November 2007, Prashant Bhatia, a Citi Investment Research Analyst, wrote that E*Trade had a 15% chance of bankruptcy due to the effects of the decline in the subprime market. E*Trade’s shareholders clearly took this statement to heart as the company's share price declined 59% in one day. Just as interesting however, is [...]
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Sound Money Tips (Free subscription) | 12/26/2007
In the New York Times' DealBook Monday, Andrew Ross Sorkin reported that Och-Ziff Capital Management (OZM), the newly-listed hedge fund, had won only a "hold" rating from Citigroup (C) analyst Prashant Bhatia: Complete Story »
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DealBook (Free subscription) | 12/24/2007
A Citigroup analyst left a lump of coal for Och-Ziff Capital Management, the hedge fund that went public last month. The analyst, Prashant Bhatia, began covering the fund with a “hold” rating, writing in his research note that Och-Ziff might be facing headwinds for the forseeable future. For Mr. Bhatia — who acknowledges that his firm [...]
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Seeking Alpha (Free subscription) | 12/03/2007
Colin Peterson submits: Another violent bear market rally. The market should have tanked instead after the awful news last week: Citadel bought a portfolio of E*Trade's residential loans . " Citigroup investment bank analyst Prashant Bhatia said E*Trade actually received 11 cents on the dollar for its portfolio, if you factor in that the brokerage received $800 million in cash minus...
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Silicon Alley Insider (Free subscription) | 11/30/2007
How bad did E*Trade (ETFC) screw up? Real bad. The $2.55 billion injection from hedge-fund Citadel will result in 50% dilution to existing shareholders, says Citi analyst Prashant Bhatia, the man who started the run on the bank by murmuring...
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Psychohistory (Free subscription) | 11/13/2007
Wow, people are really panicked. Here’s what happened. Yesterday, Citigroup analyst Prashant Bhatia wrote an extremely negative report on E*Trade based on their announcement of exposure to mortgage securities where he put the likelihood of bankruptcy at 15%. How he calculated this, I don't know. Maybe he estimated their exposure and risk curve for their portfolio, [...]
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Seeking Alpha (Free subscription) | 11/13/2007
Ant & Sons submits: In a note to clients on Monday, Citi Investment Research analyst Prashant Bhatia wrote that E-Trade Financial Corp. (ETFC) would come under immense pressure from writedowns and a Securities and Exchange Commission inquiry that would result in a cascade of clients closing accounts. Complete Story »
