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Street Reacts To American Express' Beat-And-Raise Quarter
Friday, October 19, 2018 - 1:01pm | 628Read More...American Express Company (NYSE: AXP) reported Thursday a beat-and-raise third quarter earnings. Earnings of $1.88 per share beat estimates by 12 cents, while sales of $10.1 billion came in just ahead of estimates. Here's a summary of how some of the Street's top analysts reacted to the...
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Alliance Data Systems Has 'Significant Growth Potential,' BofA Says In Bullish Initiation
Monday, September 17, 2018 - 3:24pm | 440Read More...Alliance Data Systems Corporation (NYSE: ADS) shares were trading up Monday aftter the company picked up a new sell-side bull. The Analyst Bank of America Merrill Lynch analyst Kenneth Bruce initiated coverage of Alliance Data Systems with a Buy rating and $290 price target. The Thesis...
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BofA Upgrades Ally Amid Favorable Lending Backdrop
Monday, July 30, 2018 - 3:01pm | 366Read More...After last week’s strong earnings beat, Ally Financial Inc (NYSE: ALLY) converted one of its last remaining fence-sitters to boast a 14-5 buy-sell ratio. The Rating Bank of America Merrill Lynch analyst Kenneth Bruce and two others upgraded Ally from Neutral to Buy and raised the ...
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The Best Banks To Buy: Why This Analyst Likes Capital One, Discover And Synchrony Financial
Monday, December 18, 2017 - 3:25pm | 472Read More...Corporate tax cuts and rising interest rates have been a winning recipe for financial stocks in the second half of 2017. However, even with the Financial Select Sector SPDR Fund (NYSE: XLF) up 15.6 percent in the past six months, one analyst says the good news out of Washington is not yet priced...
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Pair Trade: American Express Vs. Synchrony Financial
Friday, October 6, 2017 - 3:45pm | 588Read More...Previewing the third-quarter results of consumer/commercial financial services sector, Bank of America Merrill Lynch highlighted a pair trade. The firm downgraded shares of Synchrony Financial (NYSE: SYF), even as it said it remained bullish on American Express Company (NYSE: AXP). A pair...
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Bank Of America Says Synchrony Financial's Quarter Was Solid, But Current Price Leaves Little Upside
Monday, July 25, 2016 - 3:59pm | 342Read More...Bank of America remains Neutral on Synchrony Financial (NYSE: SYF), despite reporting better-than-expected second-quarter earnings. But, it raised the price objective to $30 from $28. Synchrony Financial reported second-quarter GAAP EPS of $0.58, mostly in line with Bank of America's $0.57 estimate...
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Bank Of America Downgrades Capital One Due To Q1 'Sloppiness'
Wednesday, April 27, 2016 - 10:00am | 265Read More...Bank of America has downgraded Capital One Financial Corp. (NYSE: COF) from Neutral to Underperform, saying the company’s lackluster Q1 performance is more than just disappointing – it’s sloppy. Analyst Kenneth Bruce said uncertainty is likely going to limit the upside for Capital...
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Bank of America: Blackstone Mortgage Trust Now A 'Buy' On Valuation & Deal Pipeline
Tuesday, June 23, 2015 - 9:24am | 777Read More...On June 22, Bank of America/Merrill Lynch analyst Kenneth Bruce published a research note upgrading commercial mREIT Blackstone Mortgage Trust Inc (NYSE: BXMT) from Neutral to Buy. BXMT is externally managed by Blackstone Group LP (NYSE: BX), the largest U.S. publicly traded alternative asset...
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'Green Lender' Hannon Armstrong Gets Valuation Call From Bank of America
Tuesday, June 23, 2015 - 9:06am | 691Read More...On June 22, Bank of America/Merrill Lynch analyst Kenneth Bruce published a research note downgrading "mREIT" Hannon Armstrong Sustainable Infrastructure (NYSE: HASI) from Buy to Neutral. HASI's lending focus is on projects that increase energy efficiency, offer cleaner energy sources and...
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UPDATE: Bank Of America Downgrades Santander Consumer Following Investor Day
Thursday, November 20, 2014 - 9:21am | 175Read More...In a report published Thursday, Bank of America analyst Kenneth Bruce downgraded the rating on Santander Consumer USA Holdings Inc (NYSE: SC) from Neutral to Underperform, and lowered the price target from $19.00 to $16.00. In the report, Bank of America noted, “Following its investor day, we are...
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Ocwen Financial Shares Get Crushed, Bank Of America Downgrades
Wednesday, October 22, 2014 - 8:40am | 147Read More...Shares of Ocwen Financial Corp (NYSE: OCN) were nearly 7 percent lower in the pre-market session. Amid the drop, Bank of America analyst Kenneth Bruce issued a note downgrading the company's shares from Buy to Neutral and slashed the price target from $35 to $23. Bruce commented, "...
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UPDATE: Bank Of America Reiterates On Astoria Financial Corp. On Weak Growth Prospects
Monday, October 20, 2014 - 10:54am | 184Read More...In a report published Monday, Bank of America analyst Kenneth Bruce reiterated an Underperform rating on Astoria Financial Corp. (NYSE: AF), but lowered the price target from $12.00 to $11.00. In the report, Bank of America noted, “AF's core income growth will likely be challenged over the near...
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UPDATE: Bank Of America Reiterates On Ocwen Financial As Expectations Are Reset
Tuesday, August 5, 2014 - 10:19am | 114Read More...In a report published Tuesday, Bank of America analyst Kenneth Bruce reiterated a Buy rating on Ocwen Financial (NYSE: OCN), but lowered the price target from $54.00 to $35.00. In the report, Bank of America noted, “OCN is a leading independent mortgage servicer specializing in distressed loans. We...
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Bank Of America Is 'Bulled Up' On Credit Card Stocks
Thursday, July 17, 2014 - 11:32am | 270Read More...In a note issued Thursday morning, Bank of America analyst Kenneth Bruce came out bullish on the credit card industry amid acceleration in the loan growth rate. Bruce wrote, "Investors have anxiously awaited loan growth in the sector, in our view, so the improving prospects should support...
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UPDATE: Bank Of America Reiterates On Apollo Investment Given Somewhat Sluggish Backdrop
Tuesday, June 17, 2014 - 7:53am | 184Read More...In a report published Tuesday, Bank of America analyst Kenneth Bruce reiterated a Neutral rating on Apollo Investment (NASDAQ: AINV), but lowered the price target from $9.00 to $8.75. In the report, Bank of America noted, “We believe Apollo Investment (AINV) is fairly valued at 1.0x NAV given our...
