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NEW YORK (MarketWatch) - Ladenburg Thalmann on Monday said Merrill Lynch & Co.
Inc. will have to raise equity in the third quarter and could be forced to unload
20% of its stake in Bloomberg, analyst Dick Bove predicted. Bove estimated
Merrill would sell its holdings in Bloomberg for $1 billion, which would solve
any current capital issues, and would not issue equity. “My estimate is that the
firm could show a net negative revenue number of $2.5 billion in its principal
transaction line or a figure consistent with the first-quarter result,” Bove
said. Bove lowered his 2008 estimate for Merrill to a loss of $1.64 a share from
a previous per-share estimate of a profit of $1.37 and cut his price target to
$30 from $39.

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