Bank of America is downgraded to Hold from Buy at Credit Suisse which says the share valuation...

Bank of America is downgraded to Hold from Buy at Credit Suisse which says the share valuation has gotten ahead of itself. Downgrades on BofA were popular until early last year. From what we can find, today's lowered rating is the first since last April. BAC -0.8% premarket.

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Comments (6)
  • m2monette
    , contributor
    Comment (1) | Send Message
    Technocrats; what would we do without them? As a "small business, main street USA" entreprenuer who has to attend to the mechanics and health of his company's future, I appreciate what I am watching at BOA; a competetn leadership team rebuilding a franchise from a disaster laden with opportunity. Long term, as in "investment", BOA will emerge as a earnings monster. They are clearly minimizing old exposure, structuring for lean and mean, and becoming a BANK again. While they minimize mortgage exposure in an environment where artificially low interest rates will burden future earnings, they are working the Merrill brand and focusing on middle America's business entreprenuers. Thanks for the hold recommendation. I bought it and absolutely plan to hold it for the multuple that it already is.
    9 Jan 2013, 07:40 AM Reply Like
  • OldHorseThief
    , contributor
    Comments (19) | Send Message
    I'm elderly, retired, bullet proof and long $BAC. I've clung to $BAC since $5.25 and at year end studied salting away my cost in shares and putting the marvelous gain to work elsewhere...but where else? $CS? Come on...CS's recommendations are increasingly self-serving: $ALU,$BAC...See you at $15.00.
    9 Jan 2013, 08:12 AM Reply Like
  • MexCom
    , contributor
    Comments (3077) | Send Message
    If you like BAC you'll love the warrants. Being gutsy at $5.25 - the "B" warrants got as low as $.29. Even at today's low valuation ratio to the stock price it has outperformed the stock. The price ratio is about to increase if we get into the mid teens.
    9 Jan 2013, 08:33 AM Reply Like
  • smallmaster2012
    , contributor
    Comments (11) | Send Message
    got 55000 bac.wait till it reaches 15 later !.
    9 Jan 2013, 03:31 PM Reply Like
  • Rickyclemson
    , contributor
    Comments (11) | Send Message
    If it drops I'll buy even more. BAC rocks
    9 Jan 2013, 12:14 PM Reply Like
  • Buckoux
    , contributor
    Comments (9785) | Send Message
    BAC is shackled as long as the Fed continues Quantitative Easing. Which is just another way for the government to pay cheap interest on past, present and future debt. The Feds policies have nothing to do with banking or their new obligation of "reducing unemployment". The Fed's job is low interest for a spendthrift government. Nothing more. Downgrade the Fed to "sell" from "hold".
    9 Jan 2013, 02:45 PM Reply Like
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