Prudential Pounds the Banks Again
Prudential's bank team kicked off coverage on mid-cap banks Tuesday with more of the straight talking it did on the big bank names last week.
Bank analyst David Trone, who joined the firm alongside Michael Mayo in early February, is also a former Credit Suisse First Boston bank analyst. Like Mayo, Trone also left CSFB following its merger with Donaldson Lufkin & Jenrette. Today Trone initiated coverage of 15 banks, slapping sell ratings on nine, and strong buy ratings on six.
Unlike last week's research, which took a contrarian view of many of the large banks (for instance, Mayo put a sell rating on industry favorite Bank of New York (BK Quote)), Trone's research seemed more in line with what others on Wall Street are saying. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,344.84 | 1,095.63 | 2,144.60 | 32.01 |
Oil *
78.55
|
|
UP
34.92
|
UP
4.14
|
UP
6.16
|
DOWN
0.30
|
10 Yr
3.20%
SPDR Gold
115.65
|
|
+0.34%
|
+0.38%
|
+0.29%
|
-0.93%
|
Data delayed 20 minutes |
Connect with TheStreet