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6 pts

Opinion on  Wachovia Corp (WB)     Sector: Financial  >  Industry: Money Center Banks
financials to outshine in 08

Dec 06, 2007 06:44 AM UTC
Return Risk
-33.55% LOW
Associate

WB clearly has issues today.  Its mortgage business is not improving anytime soon and will likely to face further writedowns.  However, with Fed poised to ease by more than 100 bps, I believe that the financials have a headwind.  I will not fight the Fed here.  The stock has taken a hit year to date and I like the stock at current level.

WB:  This call was made on 12/06/07 @ $42.88
Rating:   Positive   $42.88 (12/06/07)
Gain/Loss:   -88.36% in 363 days
Target:   $55.00 (+28.26%) in > one year
Allocation:   4.2% of portfolio


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