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But suppose this contrarian view on valuation is right.
"In view of the lack of transparency on strategy and in view that the company is likely to be eliminated from the FTSE100 over the next quarter, we are now taking a more cautious view on valuation".
"Were Mr. Weill to leave Citigroup for any reason, our view on valuation appeal would suffer," Mr. Kraushaar wrote, in part because the company would lose Mr. Weill's famous cost-cutting skills.
Meanwhile Morgan Stanley cut its recommendation on ABF, moving from overweight to equal weight and saying: We take a fresh look at Primark and emerge with a more cautious view on valuation.
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On July 22nd George Bush once again promoted views on share valuations, and once again investors preferred a president to a share huckster; they sold.
Grand View-on-Hudson.
"But we remain positive on recent management changes and view current valuation as attractive," Yin wrote.
History suggests a significant degree of mitigation is possible but, in our view, given the significantly net importing nature of UK retail, the uncertainty will weigh on valuation.
The second impact was on valuation.
"Our move to neutral here is based on valuation rather than fundamental concerns," Doug Anmuth wrote in Monday's note to JPMorgan clients, adding that he had a positive overall view on the company.
The shares remain well supported and, in our view, the valuation is attractive.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com