BofA results have something for bulls and bears, says Goldman


The bears, though, are winning the day, with analyst Richard Ramsden saying the stock could see pressure - a result of questions about a path to reaching 2015 and 2016 EPS estimates of $1.60 and $1.85 combining with recent outperformance (stock's beating the BKX by 500 bps YTD).

The bulls, he says, can point to the best FICC results seen so far from the banks, rapidly declining LAS expenses, stable NIM, and strong capital and liquidity ratios.

He maintains a Neutral rating and $18 price target on Bank of America (BAC -2.4%).

Previous earnings coverage

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