Not Much Upside Left in Credit Suisse Stock, S&P Says

Credit Suisse stock has fought it’s way back to three-year highs recently after a gruesome slaughtering at the hands of investors in late 2002 and early 2003. That’s precisely the problem, though, according to S&P which is cutting CSG stock to a hold. Despite faith in management’s ability to achieve its strategic and financial targets for 2006, the rating agency says that, “with the recent run up in price, the American Depositary Shares are fairly valued.” The 12-month price target? $53, less than a buck more than yesterday’s close.
S&P Lowers Opinion on CS [Business Week]

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