Banking, finance, and taxes
Downgrading Hedgies, Private Equity & Financials (BX, FIG, GLG, IVZ, JNS, OZM, STD, TROW)
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There is an interesting trend where Barclays has essentially cut its rankings on hedge fund and private equity operators. Here are the calls, plus a call elsewhere on a bank:
- Blackstone (NYSE: BX) Cut to Underweight at Barclays.
- Fortress Investment (NYSE: FIG) Cut to Equal Weight at Barclays.
- GLG Partners (NYSE: GLG) Cut to Equal Weight at  Barclays.
- INVESCO (NYSE: IVZ) Started as Equal Weight at Barclays.
- Janus Capital (NYSE: JNS) Started as Underweight at Barclays.
- Och-Ziff Capital (NYSE: OZM) Cut to Equal Weight at Barclays.
- Banco Santander, S.A. (NYSE: STD) Cut to Sell from Neutral at UBS.
- T. Rowe Price (NASDAQ: TROW) Started as Equal Weight at Barclays.
Jon C. Ogg
January 14, 2009
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