Robert Baird analyst David George was the latest analyst to call the cops on Bank of America's party, dropping his recommendation to "neutral" from "outperform." Nonetheless, George lifted his 2012 earnings estimate to 65 cents per share from 50 cents, primarily due to expectations of a strong first quarter.
Explaining the reason for the downgrade, George joined several other analysts in arguing Bank of America must show stronger earnings potential to continue its outperformance.
"We attribute the majority of the stock's outperformance to the notable improvement in capital levels," George stated in his report.George favors JPMorgan Chase (JPM) to Bank of America. "While
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