Merrill Lynch (MER) To Follow Lehman Down Dilutive Tubes, Say Competitors

JP Morgan and Oppenheimer took turns taking shots at Merrill Lynch (MER) today, theflyonthewall reports.

JP lowered its 2008 EPS estimate for MER from $0.86 to -$0.04 citing slowing client activity, ineffective hedges, expected fixed income write-downs and monoline exposure. Maintains Neutral.

Oppenheimer believes Merrill’s previous Temasek and convertible stock capital raises will make additional capital raising deals more dilutive. UNDERPERFORM.

See Also:
Lehman (LEH) Mauled Again–So Where’s CEO Dick Fuld?
(LEH)
S&P Cuts Debt Ratings on Morgan Stanley (MS), Merrill (MER), Lehman (LEH) (MER, LEH, MS)

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