Bank Of America Downgraded To Hold From Buy At Deutsche Bank
Deutsche Bank analyst Matt O'Connor downgraded Bank of America (BAC) to Hold citing valuation with the stock up around 50% from the February 11 lows.
The analyst sees "modest additional upside potential" without a meaningful improvement in macro conditions. O'Connor has a $17.50 price target for Bank of America shares. The stock closed yesterday up 46c to $17.01.
Disclosure: None.
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