Analyst puzzles investors with Lehman “Buy” rating

This morning I read a few quotes from a popular analyst, Richard Bove, outlining his reasons for keeping a “buy” rating on Lehman Brothers.
Last Thursday, Bove asserted that conditions are ripe for a hostile takeover bid and shares of Lehman have risen over 15 percent since then.
The stock has been hammered this year, losing over 75 percent of its value.  The company remains in the news regularly and not for positive reasons. This week it was news of a 6 percent workforce reduction, prior to that it was a $2.8 billion loss in the second quarter, calls for the resignation of the CEO, …read more