How do you find people to help you make buy/sell decisions? Here’s some good news. IFO has found a great contrarian. If he says buy, you sell, and vice-versa. Of course, as always, you should make up your own mind, but look at this:
BP’s a Buy Whether or Not Russian Venture Works Out: Analyst
Bank of America/Merrill Lynch analyst Alejandro Demichelis upgraded shares of BP (BP) to Buy today, arguing that the company is significantly undervalued on a net asset value basis, and has upside potential of 31%.
Demichelis also weighs in on BP’s deal with Russian oil producer OAO Rosneft, a relationship the company has been attempting to mend after it fell apart a few months ago.
There you go – the entire analysis apparently ignores the quality of management as shown by its attempt to do this OAO Rosneft deal.