Ariad Pharmaceuticals Inc fka ARIA

[glass_half_full]

they call it a bribe

Actually, for the vast majority of people, if you give someone something with the expectation of getting something back, they call it "commerce," or "a contract."

I think it's only when there is some other foulness about it (money for government favors, e.g.) when it enters bribe territory.

I think the upgrades are good, if a bit of sausage-making: I think the market historically (and certainly, recently) is aware of these types of conflicts in sell-side "research." That's why sell-side research is both free and abundant -- and why it's best not to look too closely at the process.

Truly independent buy-side research, however, is rare and brutally expensive. Which is to say that the real upgrade was the buy-in by Baker Bros.