Banks--- Betting on the recovery Message Board

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Non-Tech : Banks--- Betting on the recovery

WFC 85.05

+0.4%

Nov 14 9:30 AM EST

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From: tejek	4/14/2009 1:34:21 PM
	of 1428

Credit Suisse initiates BAC with a Neutral and $8 tgt. Firms says that a confluence of headwinds, including ongoing credit deterioration and uncertainty in the credit/capital markets, against the backdrop of relatively thin capital levels, dictates their Neutral rating. Firm's $8 tgt represents 0.75x 2009 tangible book value of $10.21 and 8.0x their 2010 EPS est, and represents about 90% of adjusted tangible book value.

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