Analysts Exposed- Jamie Kiggen (DLJ) Message Board

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Pastimes : Analysts Exposed- Jamie Kiggen (DLJ)

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To: Mephisto who wrote (230)	9/7/2001 1:30:04 PM
From: Brasco One	Read Replies (2) of 263

This week's thanks-for-the-mindblowing-insight award goes to Legg Mason analyst Todd Weller, who Wednesday downgraded Web hosting company Exodus (EXDS:Nasdaq - news - commentary - research) from buy to market perform, one day after the resignation of CEO Ellen Hancock. Consolidating Investors reducing exposure What makes the downgrade dumber than your usual, garden-variety, shut-the-gate-after-the-horse-has-escaped-the-stable downgrade, is how closely it follows Weller's prior dissing of the stock. After strong-buying Exodus for more than a year -- all the way down from a $55-plus -- Weller lowered the stock to a buy rating on Aug. 23 when it was at $1.21, in part because of the resignation of three Exodus board members. Weller's latest downgrade, inspired by Hancock's departure, came less than two weeks after that, when the stock had fallen to 65 cents. Well, on behalf of all the optimists who bought Exodus' stock after reading your Aug. 23 report, we thank you for the Sept. 5 note. That one really changed our opinion of the company.

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