BofA Merrill Lynch Fund Manager Survey Finds Investors Significantly Less Confident in Global Economic Outlook

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UBS Says Bank of America (BAC) Weakness is Due to Energy Exposure Concerns - Cuts PT to $18

January 20, 2016 9:06 AM EST

UBS maintained a Buy rating on Bank of America (NYSE: BAC), and cut the price target to $18.00 (from $20.00), as shares underperform following 4Q earnings. UBS says that the weakness is due to concerns around the company's energy exposure, specifically its "higher risk" subsectors. Management remains confident that core expenses will run just under $13 billion per quarter in a... More