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Fly News Breaks for August 25, 2015
BAC
Aug 25, 2015 | 06:11 EDT
Baird upgraded Bank of America to Outperform from Neutral and called it a "compelling tactical long idea." The firm believes Bank of America's discounted valuation at approximately 1x tangible book value provides an adequate margin of safety, and steady growth in tangible book value, which should drive shares until the growth and interest rate outlook improves. Baird has an $18 price target on shares.
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