Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Real Man who wrote (92431)	2/2/2010 8:40:52 AM
From: fred woodall	Read Replies (1) of 94695

I suppose Paul Volcker visiting the hill today has nothing to do with the banks being upgraded this morning. BofA Merrill upgrades American Express (AXP), Capital One (COF) and Discover (DFS), all to buy from neutral. The stocks' pullback this month is an opportunity to benefit from a recovery, stronger earnings and improving sentiment toward credit cards, firm writes. Predicts 15%-25% upside for each stock. Sounds less bullish on the long term, but for now, firm contends the pullback reflects "a more sober view of a recovery, setting the stocks up for a positive surprise on good news." AXP up 1.8% premarket; COF gains 2.3%; DFS up 2.5%.

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