Bank of America sets new cost target under pressure from low rates

UBS Reiterates Buy on Bank of America (BAC) Following 2Q Report

UBS reiterated a Buy rating and $18.00 price target on Bank of America (NYSE: BAC) following the company's 2Q earnings report. UBS is raising 2016 estimates by 4c to $1.28 per share driven by the 2Q beat and lower operating expenses partially offset by lower NII.

Analyst Brennan... More

Jefferies Reiterates Buy on Bank of America (BAC) Following 2Q Earnings - PT to $16.50

Jefferies reiterated a Buy rating on Bank of America (NYSE: BAC), and raised the price target to $16.50 (from $16.00), following the company's 2Q earnings report. Management expects NII to be stable in upcoming quarters, with upside if rates move higher.

Analyst Ken Usdin... More

UBS Reiterates Buy on Citigroup (C) Following 2Q Report - PT to $53

UBS reiterated a Buy rating on Citigroup (NYSE: C), and cut the price target to $53.00 (from $54.00), following the company's 2Q earnings report. Citi's NIM should recover to 290+ bps in 2H16 due to 3 bps of uplift from Costco and a normalization of cash balances. The Costco portfolio closed in June and the $10.6 billion portfolio... More

BMO Capital Cuts Price Target on Wells Fargo (WFC) to $50 Following EPS Miss

BMO Capital reiterated an Underperform rating on Wells Fargo (NYSE: WFC), and cut the price target to $50.00 (from $52.00), following the company's 2Q earnings report. WFC reported EPS of $0.94, missing the consensus estimate of $1.01. BMO's Core EPS estimates for 2016 have been cut to $3.80 from $4.05.

Analyst... More

BMO Capital Raises Price Target on Citigroup (C) to $66 Following 2Q EPS Beat

BMO Capital reiterated an Outperform rating on Citigroup (NYSE: C), and raised the price target to $66.00 (from $63.00), following the company's 2Q earnings report. Citi reported EPS of $1.29, beating the consensus estimates of $1.11.

Analyst James R. Fotherin commented, "C's 2Q16 core EPS of $1.29 beat our $1.12... More