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Bank of America is reiterated a Buy by JPMorgan's Vivek Juneja, with price target raised to $13...

Bank of America is reiterated a Buy by JPMorgan's Vivek Juneja, with price target raised to $13 from $11.50. No Dick Bove, Juneja makes the move even as he cuts price targets on 6 of the other 8 big cap banks he follows. Of the 9, just BAC, C, and KEY still trade at discounts to their tangible book value.
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Comments (7)
  • Ted Bear
    , contributor
    Comments (607) | Send Message
     
    "No Dick Bove".

     

    Does that mean Juneja does real work, and not just BS?

     

    "Tangible Book Value"

     

    I'd pay money to see THAT calculation. How do you calculate Book Value when you can't even see the whole balance sheet?
    14 Dec 2012, 03:59 PM Reply Like
  • benisha1
    , contributor
    Comments (40) | Send Message
     
    Ted, could not agree more...
    14 Dec 2012, 04:30 PM Reply Like
  • kbok
    , contributor
    Comments (21) | Send Message
     
    Confusing article. Don't understand why he is not Dick Bove-ish? Which were not cut, the ones that trade below book?
    14 Dec 2012, 04:47 PM Reply Like
  • jclyak
    , contributor
    Comments (167) | Send Message
     
    I wonder when the bank analysts will get over their book value hang-up. It is only meaningful in a liquidation scenario, which may have been very relevant 4 years ago, but it is pretty much worthless if one looks at going concern value.

     

    Maybe these same guys would only buy Coke stock when the price goes below tangible book value of coke's formula...I think not much more than a buck....for that critical component of the company's entire value.

     

    Wells, USB and JPM are eating BAC's lunch in the real world, and to the extent they aren't, BAC seems to be killing itself. Sooner or later, analysts will look at growth and profitability metrics instead of book value...at least I hope so. However, the latter analysis is easy....analysts seem to like "easy" IMHO.
    14 Dec 2012, 11:03 PM Reply Like
  • Tom Sr
    , contributor
    Comments (232) | Send Message
     
    BAC is up 82% YTD.
    UBS + 34%
    JPM +22%.
    AAPL + 23%

     

    The BAC hater's missed a pretty big opportunity this year. Perhaps that's the price of allowing the Politicians and in turn the Media to convince one of various evil doings. Might want to rethink where the bigger problem was - or is.
    15 Dec 2012, 02:57 PM Reply Like
  • JamesChessing21
    , contributor
    Comments (121) | Send Message
     
    the possibility of a bigger dividend ( mimimum 12 cents per quarter)after stress test makes 13 look very conservative...could go as high as 15
    16 Dec 2012, 07:44 AM Reply Like
  • vallies
    , contributor
    Comments (351) | Send Message
     
    I like KEY, HBAN, CINF, but one I am watching is KFN with it's dividend continuously increasing. Right now I am waiting to add to at lower prices.
    16 Dec 2012, 12:05 PM Reply Like
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