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Non-Tech : Bank of America
BAC 53.47+0.8%Oct 31 5:00 PM EST

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From: Qualified Opinion2/16/2017 3:24:48 PM
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Excerpt: We are upgrading Bank of America to Outperform following our deep dive into its asset sensitivity. In our view, Bank of America provides better-than-peer upside to higher short-term rates, and strong operating leverage is expected to drive a re-valuation in the stock. Bank of America offers one of the more attractive valuations relative to its expected ROTCE, especially considering its outsized benefit to a potential tax cut. Under this scenario, we expect ROTCE to improve by 500bps to ~ 14% by 2018.

blogs.barrons.com
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