Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Merrill Upgrades Nationwide Financial Rating

Merrill Lynch upgraded Nationwide Financial (NFS) to near term strong buy from buy.

Analyst Edward Spehar says normalized earnings per share were about 13% above his 2002 forecast; therefore, he says shares would be trading at less than 10.5 times normal EPS, which seems to be unwarranted -- given the outlook for long-term growth and returns.

Spehar notes the company's operating return on equity was 13% in the first quarter, a strong performance given there have been two consecutive years of negative returns for the stock market. He cut his $3.55 2002 EPS estimate to $3.50, and trimmed the $3.95 2003 estimate to $3.90 to reflect weakness in the market. Spehar also raised his $53 target to $54 and keeps his long term strong buy rating.

blog comments powered by Disqus