Bank stocks (XLF +1.1%) are "extraordinarily undervalued," Oppenheimer's Chris Kotowski writes,...

|By:, SA News Editor

Bank stocks (XLF +1.1%) are "extraordinarily undervalued," Oppenheimer's Chris Kotowski writes, arguing that fears over margin pressure from a prolonged cycle of low interest rates ignores positive offsets, such as improvements in asset quality. So long as there are lending opportunities, net interest margin will take care of itself, Kotowski believes.