Wells Fargo's New Bank Analyst Mike Mayo Gets Busy
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After the close of trading, Wells Fargo's popular bank analyst Mike Mayo launched coverage on a host of bank stocks after recently moving over from CLSA.
Mayo said his top five picks in the group are:
- Citigroup (NYSE: C) as he notes estimates double in the stock over 4-5 years.
- State Street (NYSE: STT), saying the first time in a decade, likely to meet targets which are industry’s highest.
- SunTrust (NYSE: STI) is the best regional bank franchise, in their view.
- Bank of America (NYSE: BAC) is fully benefiting from national banking after shortfalls in ‘90s and ‘00s.
- JP Morgan (NYSE: JPM), as he is calling for the the biggest modern day risk adjusted ROE by 2020 .
In all, Mayo issued coverage on 18 bank stocks:
- Citigroup (NYSE: C) - Outperform, $90
- Bank of America (NYSE: BAC) - Outperform, $30
- JP Morgan (NYSE: JPM) - Outperform, $110
- Goldman Sachs (NYSE: GS) - Outperform, $265
- Morgan Stanley (NYSE: MS) - Neutral, $48
- State Street (NYSE: STT) - Outperform, $115
- Bank of America (NYSE: BK) - Market Perform, $55
- Northern Trust (NYSE: NTRS) - Market Perform, $90
Large Regional Banks
- SunTrust Banks (NYSE: STI) - Outperform, $70
- Zions Bancorp (NASDAQ: ZION) - Outperform, $56
- BB&T Corp. (NYSE: BBT) - Market Perform, $44
- Comerica (NYSE: CMA) - Market Perform, $73
- Fifth Third Bancorp (NASDAQ: FITB) - Market Perform, $27
- KeyCorp (NYSE: KEY) - Market Perform, $19
- M&T Bank Corp. (NYSE: MTB) - Market Perform, $170
- PNC Financial Services (NYSE: PNC) - Market Perform, $119
- Regions Financial (NYSE: RF) - Market Perform, $16
- U.S. Bancorp (NYSE: USB) - Market Perform, $56
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Create E-mail Alert Related CategoriesAnalyst Comments, Hot New Coverage, New Coverage
Related EntitiesJPMorgan, Goldman Sachs, Citi, Morgan Stanley, BB&T Capital Markets, Mike Mayo, Wells Fargo
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