- "The break-up of the universal banks is inevitable," says MKM Partner's David Trone, "not a question of 'if,' but 'when.'" Managements clearly disagree, but they're more interested in what's best for them, not the shareholders, says Trone, and it's only a matter of time before activist investors come knocking.
- Initiating coverage on BAC, C, and JPM with Buy ratings on each because their break-up will release "significant pent-up shareholder value," Trone says be patient. "We see little chance of this emerging within the next twelve months."
From other sites
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at MarketRealist.com (Wed, 7:05PM)
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at 4-traders.com (Wed, 3:06AM)
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