Here come the downgrades.
Tuesday, shares of Imperial Holdings were halted, and its office was raided by the FBI, with unusual activity noted in options on its stock.
As of yesterday, three analysts covered the stock and rated it a "buy" or "strong buy" according to the website, Starmine. All three analysts work at firms that helped underwrite the stock when it went public in February, 2011.
Imperial Holdings is a specialty finance company focused on providing premium financing for life insurance policies.
Today, FBR Capital Markets downgraded its rating to "Market Perform" from "Outperform" and reduced its price target to $6.20 from $15.00 or, the value of IFT's reported cash and cash equivalents at the end of Q2 2011.