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"I could easily see $350 or $400 prices coming back over the intermediate term," he said.
On Tuesday, Moody's lowered Kodak's ratings even further into junk status, saying the downgrade "reflects the company's weak financial performance and the challenges Kodak faces in achieving sustained profitability and positive cash flow over the intermediate term".
The Fed is facing two distinct threats — an apparent slowing of the economy over the intermediate term and a short-term market panic that has caused lenders (both banks and investors) to tighten credit lines, putting a squeeze on banks and other institutions that rely on short-term borrowing.
He believes that these forces influence stock prices more than earnings over the intermediate term.
Do you see growth in those dividends also over the intermediate term?
Should these bullish brokerage firms begin to reassess their positions, downgrades could extend the equity's downtrend over the intermediate term.
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But for the long, not the intermediate, term".
"But I'm still pretty optimistic about the intermediate term".
"We are not anticipating sector improvement in the intermediate term," the Merrill report said.
A Merrill Lynch analyst, Ken Hoexter, said, "We don't believe the company can resolve its difficulties in the intermediate term".
"People are trying to take the time to come up with something for the intermediate term," the executive added.
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