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Fly News Breaks for January 9, 2020
NTRS, GS, WFC, RF, STT, MS, JPM, C, BK, BAC
Jan 9, 2020 | 07:52 EDT
Buckingham analyst James Mitchell told investors in a research note that he would emphasize the brokerage stocks over the banks this year, as not only are they less expensive, but that expectations around growth embedded in consensus are quiet modest. The analyst upgraded Goldman Sachs (GS) and downgraded Northern Trust (NTRS), and said Citi (C) remains a top pick for the second year in a row. He also emphasized Morgan Stanley (MS) and Regions Financial (RF) as the cheapest brokers relative to historical multiples in his coverage universe. The analyst raised his price target for Bank of America (BAC) to $40 from $35, for BNY Mellon (BK) to $56 from $50, for Citi to $100 from $86, for JPMorgan (JPM) to $140 from $122, for Morgan Stanley to $65 from $55, for State Street (STT) to $95 from $84, for Regions Financial to $110 from $108 and for Wells Fargo to $55 from $47.
News For BAC;BK;C;JPM;MS;STT;RF;WFC;GS;NTRS From the Last 2 Days
BAC
Mar 28, 2024 | 16:23 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
BAC
Mar 28, 2024 | 12:00 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
GS
Mar 28, 2024 | 05:00 EDT
HSBC analyst Saul Martinez raised the firm's price target on Goldman Sachs to $460 from $432 and keeps a Buy rating on the shares. After underperforming year-to-date, HSBC is incrementally positive on super regional banks. Citi (C) remains the firm's preferred choice among banks, however. HSBC continues to expect the banks to show improved net interest income in 2H24, generate operating leverage in 2025, and increase share buybacks in 2025 and beyond.
JPM
Mar 28, 2024 | 05:00 EDT
HSBC analyst Saul Martinez raised the firm's price target on JPMorgan to $205 from $188 and keeps a Hold rating on the shares. After underperforming year-to-date, HSBC is incrementally positive on super regional banks. Citi (C) remains the firm's preferred choice among banks, however. HSBC continues to expect the banks to show improved net interest income in 2H24, generate operating leverage in 2025, and increase share buybacks in 2025 and beyond.
BAC
Mar 28, 2024 | 04:56 EDT
HSBC analyst Saul Martinez downgraded Bank of America to Hold from Buy with a price target of $39, up from $38. While there is a lot to like about Bank of America, its shares have risen 37% in the past six months, leaving limited implied upside potential, the analyst tells investors in a research note.