QLT PhotoTherapeutics (QLTI) Message Board

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Biotech / Medical : QLT PhotoTherapeutics (QLTI)

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To: Ian@SI who wrote (358)	12/22/1998 1:12:00 AM
From: Garth Richmond	Read Replies (1) of 1321

Wait, it gets better! I heard the sell QLT recommendation from Midland Walwyn (now Merrill Lynch Canada). They also recommended buying XLX at the same time. Well, XLX has gone into the proverbial crapper since then, and QLT has been roaring ahead. What was ML's reaction? They discontinued coverage of XLX, never having altered their BUY recommendation! "Market cap got too small" I believe was the "reason". How convenient, except for the hoards of fuming investors left holding the bag! Garth. PS: I actually think XLX is a great company, and deserves a BUY rating, so don't get me wrong. I am not slamming XLX (I own a bunch) but rather companies like ML when they pull these kinds of shenanigans.

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