NEW YORK ( TheStreet) -- UBS analyst Brennan Hawken on Thursday downgraded three of the largest U.S. banks and brokers on Thursday, while keeping the faith for two others.
"We are shifting to a more cautious stance on the sector, after the group has run up 31% since late July."
The analyst said that "in a more constructive environment for
In addition to "the regulatory/political uncertainty and impact of structural shifts in capital markets businesses," other concerns for the biggest industry players, according to Hawken, include "slower than expected reductions in legacy mortgage costs, weak consumer lending, the impact of European recession on universal bank
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