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Research analysts must tread lightly if theyre downgrading a stock that their investment bank owns—which might explain why Mark DAnnolfo, analyst at Deutsche Banc Alex. Brown, used the word “reluctantly” when he recently lowered his rating on DiamondCluster International.
Such wording is unusual.
Deutsche Banc Alex. Brown makes a market in the common stock of DiamondCluster, which had issued a warning about this quarters earnings several days before the downgrade.
Guess its difficult to bite the hand that feeds.