Bank of America (BAC) Q4 Results 'Very Strong', Says Goldman

January 15, 2014 9:19 AM EST
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Bank of America (NYSE: BAC) on Wednesday reported Q4 results. In the view of analyst Richard Ramsden of Goldman Sachs, the quarter was "very strong."

"BAC reported EPS of $0.29 per share, which we estimate as $0.39 on a "core" basis, handily beating our like estimate of $0.31. We view 4Q13 results as very strong, with solid revenue in key business lines and continued core expense and credit leverage. Even normalizing for lower market-related NII and lower reserve releases, today's result makes next year's consensus estimate of $1.32 look very achievable, particularly given remaining cost leverage from LAS and "New BAC"," said Ramsden.

Goldman Sachs Neutral Bank of America (NYSE: BAC) price target of $17.00

For an analyst ratings summary and ratings history on Bank of America click here. For more ratings news on Bank of America click here.

Shares of Bank of America closed at $16.77 yesterday.

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