Credit Agricole's Mike Mayo Cuts Bank of America (BAC) from Underperform to Sell

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Credit Agricole's noted banking analyst Mike Mayo just downgraded shares of Bank of America (NYSE: BAC) from Underperform to Sell early Friday morning. The analyst maintains an $8 price target.

BofA shares are up nearly 0.6 percent to $8.82 at last check. Mayo's price target represents potential downside of about 10 percent from where the stock is currently trading.

BofA reported Q1 results on Thursday morning. The stock closed down about 1.7 percent.

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

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