Raymond James upgrades E Trade Financial (ETFC +0.1%) to Outperform and set $24PT. Baird cuts its rating on American Realty Capital Properties (ARCP -1.2%) from Outperform to Neutral and set $15PT. Bank of America downgrades Deutsche Bank (DB -1.6%) to Underperform. Credit Suisse downgrades Fulton Financial (FULT +2.8%) to $14 Market Perform and set $14PT. Genworth Financial is downgraded by Morgan Stanley (GNW -0.5%) to Underweight and set $18PT.
It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong.
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