Morgan Stanley Downgrades Bank of America (BAC) to Underweight
More News related to BAC
- Bank of America (BAC) to Pay $713 Million in TARP Preferred Dividends
- Bank of America to Pay $713 Million in TARP Preferred Dividends
- Active equity option families in first 30 minutes of trading according to Track Data are: C MSFT RIMM BAC
- Bank of America Announces Limited Acceptance of California State-Issued Registered Warrants for Customers and Clients
- Banc of America Securities-Merrill Lynch Research Hires Rachel McMinn, Masha Chapman and Sarah Stinson as U.S. Biotechnology Team
More News related to C
- Citi Reaffirms Global Commitment with New Regional Leadership in Asia Pacific and EMEA
- Citi (C) And GE (GE) Couldn't Agree Over Price In An Effort To Sell Its Credit Card Business
- Active equity option families in first 30 minutes of trading according to Track Data are: C MSFT RIMM BAC
- Lear Reaches Agreement In Principle On Consensual Debt Restructuring
- Citi (C) Raising Credit Card Rates On Millions
More News related to JPM
- Chase To Accept State of California Registered Warrants from Customers
- CurrencyShares(SM) Exchange Traded Products Declare Monthly Distributions
- J.P. Morgan Selected by ProShares to Service Eight Newly Launched International ETFs
- Bove Recommends Sticking with Capital Market-Oriented Financials, Says Stay Light in Regional Banks (GS, JPM, KEY)
- Chase Approves 138,000 Trial Mortgage Modifications in the Last Three Months
Morgan Stanley downgrades Bank of America (NYSE: BAC) from Equal-weight to Underweight and lowered its price target to $15, saying the company may cut its dividend by 20% and may raise up $12 billion in Q4.
Morgan Stanley said the credit crisis is far from over.
Morgan Stanley also cuts its price target on Citigroup (NYSE: C) to $14. Morgan Stanley also lowered estimates on JPMorgan (NYSE: JPM) from $2.60 to $2.11.
Related Categories
Analyst CommentsDowngrades
Stocks Mentioned
+14.35
-1.50Related Entities
Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
$15.00 for BAC?
RNewman514 on Jul 10, 2008 08:34 AMIf BAC hits $15.00 per share, buy all you can afford. In two to three years it will be back up to $50.00 per share.