Standpoint Research Upgrades Bank of America (BAC) to Accumulate

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Standpoint Research upgrades Bank of America (NYSE: BAC) from Hold to Accumulate.

The firm said, "Although there is still some uncertainty surrounding this stock, at 1.15X tangible book value, the market in its recent sell-off seems to have discounted a worst-case scenario with regards to real estate exposure and other well-known and documented issues, although there may still remain some institutional selling pressure."

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