Lehman Recommendation Cut at Citigroup, Goldman Sachs
Lehman Brothers Holdings Inc.'s stock recommendation was cut by Citigroup Inc. and Goldman Sachs Group Inc. on a possible reduction in the company's credit rating following its biggest-ever loss.
Lehman was lowered to ``hold'' from ``buy'' by Citigroup analysts, who also cut their annual earnings-a-share estimate for the New York-based firm to a loss of $11.32 a share, compared with an earlier estimated loss of $8.26 a share. Goldman Sachs changed its rating to ``neutral'' from ``buy.''>>>MORE
Citi had upped their rec. from hold to buy on Mar. 28.
Climateer comment (via BigCharts):