Why You Can Trust CNET Amazon soothsayer heads to Merrill Lynch
Analyst Henry Blodget, who famously predicted the online bookseller would top $400, leaves CIBC Oppenheimer.
CIBC Oppenheimer & Company analyst Henry Blodget has left for rival Merrill Lynch & Company.
Blodget's last day at CIBC was today. A voice message indicated he had joined Merrill Lynch as of February 23.
Blodget gained notoriety for predicting that Amazon.com's stock would reach $400 in 12 months, a target the online bookseller promptly smashed. Prior to joining CIBC, he worked in corporate finance for Prudential Securities, specializing in emerging technology companies.
Merrill had been looking to replace Jonathan Cohen, its former Internet analyst, who left earlier this year to become director of research at Wit Capital.