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BAC

Bank of America

$24.49

-0.94 (-3.70%)

12:40
12/10/18
12/10
12:40
12/10/18
12:40

Size call spread seller returns to roll again with a Jan2020 7:1 risk/reward

Size call spread seller returns to roll again with a Jan2020 7:1 risk/reward. Shares off nearly $1, or 3.8% to $24.50 at midsession and call volume of 250K dwarfs the 88K put as a seller hammers out long-dated Jan2020 vertical call spreads following Friday's similar action in the 35/37 strikes. Trade du jour is the Jan20 32/35 call vertical with 28K spreads sold at 36c and another 45K currently offered in the complex order book. Buyer gets potential upside of $2.64 on an outlay of 36c if BofA shares manage to rebound from current 15month lows. Friday's flow was a seller of the Jan20 35/37 call spread nearly 88K times around 17c, which was net closing on the 37s. Today's flow appears to roll down that recent adjustment to an even lower strike in anticipation of limited upside over the next year.

  • 12

    Feb

BAC Bank of America
$24.49

-0.94 (-3.70%)

12/07/18
FBCO
12/07/18
NO CHANGE
Target $128
FBCO
Outperform
JPMorgan price target cut to $128 from $130 at Credit Suisse
Credit Suisse analyst Susan Roth Katzke maintained an Outperform rating on JPMorgan (JPM) but lowered her price target to $128 from $130. In a research note to investors, she says that she has increased the weighting on her "gray sky valuation" to 25% from 15% and reduced the weighting on her "blue sky scenario" to 25% from 35%, and while she does not anticipate an imminent turn in the cycle, she feels she must recognize some increased probability relative to the status quo. The analyst also lowered her price targets on other large banks, including Morgan Stanley (MS), PNC (PNC), Bank of America (BAC), Goldman Sachs (GS), State Street (STT) and Wells Fargo (WFC).
12/07/18
FBCO
12/07/18
NO CHANGE
Target $60
FBCO
Neutral
Wells Fargo price target cut to $60 from $62 at Credit Suisse
Credit Suisse analyst Susan Roth Katzke maintained a Neutral rating on Wells Fargo (WFC) but cut her price target to $60 from $62. In a research note to investors, she says that she has increased the weighting on her "gray sky valuation" to 25% from 15% and reduced the weighting on her "blue sky scenario" to 25% from 35%, and while she does not anticipate an imminent turn in the cycle, she feels she must recognize some increased probability relative to the status quo. The analyst also lowered her price targets on other large banks, including Morgan Stanley (MS), PNC (PNC), Bank of America (BAC), State Street (STT), Goldman Sachs (GS) and JPMorgan (JPM).
12/07/18
FBCO
12/07/18
NO CHANGE
Target $146
FBCO
Neutral
PNC Financial price target cut to $146 from $150 at Credit Suisse
Credit Suisse analyst Susan Roth Katzke maintained a Neutral rating on PNC Financial (PNC) but cut her price target to $146 from $150. In a research note to investors, she says that she has increased the weighting on her "gray sky valuation" to 25% from 15% and reduced the weighting on her "blue sky scenario" to 25% from 35%, and while she does not anticipate an imminent turn in the cycle, she feels she must recognize some increased probability relative to the status quo. The analyst also lowered her price targets on other large banks, including Morgan Stanley (MS), Bank of America (BAC), State Street (STT), Goldman Sachs (GS), JPMorgan (JPM) and Wells Fargo (WFC).
12/07/18
FBCO
12/07/18
NO CHANGE
Target $35
FBCO
Outperform
Bank of America price target cut to $35 from $36 at Credit Suisse
Credit Suisse analyst Susan Roth Katzke maintained a Neutral rating on Bank of America (BAC) but cut her price target to $35 from $36. In a research note to investors, she says that she has increased the weighting on her "gray sky valuation" to 25% from 15% and reduced the weighting on her "blue sky scenario" to 25% from 35%, and while she does not anticipate an imminent turn in the cycle, she feels she must recognize some increased probability relative to the status quo. For Bank of America, she says organic revenue growth, visible operating leverage, manageable credit cost increases and capital efficiency will drive realization of franchise value. The analyst also lowered her price targets on other large banks, including Morgan Stanley (MS), PNC (PNC), State Street (STT), Goldman Sachs (GS), JPMorgan (JPM) and Wells Fargo (WFC).

TODAY'S FREE FLY STORIES

ENR

Energizer

$49.05

1.33 (2.79%)

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AMZN

Amazon.com

$1,734.99

-10.51 (-0.60%)

, MSFT

Microsoft

$149.46

-0.14 (-0.09%)

07:20
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Periodicals
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MSFT

Microsoft

$149.46

-0.14 (-0.09%)

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  • 02

    Dec

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    Dec

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    Dec

ABCB

Ameris Bancorp

$42.81

-0.4 (-0.93%)

07:19
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Ameris Bancorp analyst commentary  »

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  • 12

    Dec

BWEN

Broadwind Energy

$1.44

-0.06 (-4.00%)

07:18
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Broadwind Energy receives first solar market order »

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ASTC

Astrotech

$1.51

-0.06 (-3.83%)

07:18
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07:18
Hot Stocks
Astrotech says 1st Detect sells TRACER 1000s to shipping & logistics company »

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MDGS

Medigus

$1.76

(0.00%)

07:17
11/22/19
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Medigus receives $1.2M payment as part of MUSE agreement in China »

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DXLG

Destination XL

$1.45

-0.02 (-1.36%)

07:16
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07:16
Hot Stocks
Breaking Hot Stocks news story on Destination XL »

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  • 22

    Nov

T

AT&T

$37.59

0.415 (1.12%)

07:15
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07:15
Recommendations
AT&T analyst commentary  »

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  • 09

    Dec

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    Dec

  • 29

    Jan

DXLG

Destination XL

$1.45

-0.02 (-1.36%)

07:15
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07:15
Hot Stocks
Destination XL expects FY19 free cash flow to be breakeven »

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  • 22

    Nov

ANIX

Anixa Biosciences

$3.50

-0.11 (-3.05%)

07:13
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07:13
Hot Stocks
Anixa Biosciences announces Cchek study collaboration with UCA »

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DXLG

Destination XL

$1.45

-0.02 (-1.36%)

07:13
11/22/19
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Earnings
Destination XL reports Q3 adj. EPS (8c) vs. (2c) last year »

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  • 22

    Nov

DXLG

Destination XL

$1.45

-0.02 (-1.36%)

07:11
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07:11
Hot Stocks
Destination XL announces Ujjwal Dhoot as chief digital officer »

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  • 22

    Nov

TREE

LendingTree

$365.30

-5.29 (-1.43%)

07:11
11/22/19
11/22
07:11
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07:11
Initiation
LendingTree initiated  »

JPMorgan starts…

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  • 11

    Dec

ENR

Energizer

$49.05

1.33 (2.79%)

07:09
11/22/19
11/22
07:09
11/22/19
07:09
Hot Stocks
Energizer targets 'top-line growth above category' in FY20-FY22 »

Also targets adjusted…

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NVCN

Neovasc

$2.85

-0.05 (-1.72%)

07:08
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Hot Stocks
Neovasc says Reducer featured during therapy development program in Coburg »

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COP

ConocoPhillips

$60.22

0.85 (1.43%)

07:08
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SJM

J.M. Smucker

$104.40

-1.15 (-1.09%)

07:08
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J.M. Smucker CEO says Q2 sales performance did not meet expectations »

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  • 22

    Nov

LHCG

LHC Group

$131.10

0.57 (0.44%)

07:06
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LHC Group, Texas Health, Methodist Health purchase Healthcare Resources »

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  • 04

    Dec

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    Dec

SJM

J.M. Smucker

$104.40

-1.15 (-1.09%)

07:06
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07:06
Earnings
J.M. Smucker cuts FY20 adj. EPS view to $8.10-$8.30 from $8.35-$8.55 »

Consensus $8.27. Cuts…

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  • 22

    Nov

RMR

RMR Group

$48.26

0.02 (0.04%)

07:06
11/22/19
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07:06
Earnings
RMR Group reports Q4 adj. EPS 59c, consensus 52c »

Reports Q4 revenue…

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  • 22

    Nov

NAVB

Navidea

$0.71

-0.0322 (-4.34%)

07:05
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07:05
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07:05
Initiation
Navidea initiated  »

Navidea initiated with a…

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07:05
11/22/19
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General news
FX Update: The dollar has been trading steady-to-firmer »

FX Update: The dollar has…

DXLG

Destination XL

$1.45

-0.02 (-1.36%)

07:04
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Hot Stocks
Destination XL appoints Ujjwal Dhoot as CDO »

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  • 22

    Nov

SJM

J.M. Smucker

$104.40

-1.15 (-1.09%)

07:03
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Earnings
J.M. Smucker reports Q2 adj. EPS $2.26, consensus $2.13 »

Reports Q2 revenue…

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  • 22

    Nov

STAY

Extended Stay America

$14.84

-0.13 (-0.87%)

07:02
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Hot Stocks
Extended Stay America appoints Bruce Haase as Chief Executive Officer »

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