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Wachovia Corp (WB)

COMMENT
Being acquired by Wells Fargo (WFC-N). If it's a share swap, he would hold the shares as he likes Wells Fargo. If it's a cash deal, tender your shares.
DON'T BUY
Caller is asking about laddering in on this bank. This is in the financial sector and is one of the US banks that has a huge balance sheet with a lot of bad debt on it. At this stage, he would ladder into some Canadian banks instead. You could pick Toronto Dominion (TD-T), Royal (RY-T), Bank of Nova Scotia (BNS-T) or Bank of Montreal (BMO-T), all 4 of them ora any one of them or the iUnits S&P Financial (XFN-T). (See Past Top Picks,)
DON'T BUY
Price is depressed, but could get worse. Financial stocks like this are to be avoided, at least for the next quarter, perhaps two. Still a lot od shoes to drop.
BUY
Basically believes that the banking system will muddle through this problem. A basket of these financials with the yields they’re offering can be a very effective way to invest. Buy in measured proportions.
DON'T BUY
Used to love this one. This was when they where an independent bank in North Carolina. Was acquired by one of its competitors a few years ago but it no longer has the good quality characteristics.
COMMENT
His model price is $50.12, a 31.5% upside. Model price has been coming down in lieu of earnings estimates coming down.
HOLD
Part of a recent bump up from the summer in financials. Short-term moving averages looks like it is trying to give you a signal.
HOLD
Not interested in the financials, but they do give a bit of concern right now and would like to see a bit of carry through.
DON'T BUY
Very concerned about regional banks in the U.S, don’t know about their bad exposure to mortgages. Housing situation is far from at a bottom, we’re going to see increased defaults on credit cards and on mortgages.
DON'T BUY
This has a model price of $48.94 which is at 9% negative differential. US interest rates have gone up which is killing the financials.
BUY
A big retail bank on the eastern seaboard which is a prime area to be in. Just made a big acquisition. Good solid management.
BUY
Well-run. Prefers it over Wells Fargo as it is moving a little bit faster. Feels this is the strongest one in the group.
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Wachovia Corp (WB) Frequently Asked Questions

What is Wachovia Corp stock symbol?

Wachovia Corp is a OTC stock, trading under the symbol WB (previously WB-N on Stockchase) on the undefined (undefined). It is usually referred to as or WB

Is Wachovia Corp a buy or a sell?

In the last year, no analyst issued a Buy, Sell, or Hold rating on WB (previously WB-N on Stockchase) on Stockchase. Read the latest expert commentary for Wachovia Corp.

Is Wachovia Corp a good investment or a top pick?

Wachovia Corp was never recommended as a Top Pick on Stockchase. Read the latest stock experts ratings for Wachovia Corp.

Why is Wachovia Corp stock dropping?

Earnings reports or recent company news can cause the stock price to drop. Read stock experts' recommendations for Wachovia Corp.

Is Wachovia Corp worth watching?

Wachovia Corp is covered by Stockchase experts and is worth watching.