Goldman upgrades Bank of America to "buy"

[ASusilovic]

Goldman Sachs on Monday upgraded Bank of America shares to buy from neutral and added the company to its conviction buy list, saying the market is absorbing a new stock issue and that the firm could earn 25 cents a share during the second quarter, well above consensus estimates of a penny a share.



http://www.marketwatch.com/story/buy-bank-of-america-goldman-says-with-conviction

 

[MrDODGE]

I am excited about the continued bank manipulation.

 

[niceneasy]

think of goldman as a manure store and bank of america as a very ripe pile of manure about to dry up and expire. so they are putting it on sale...

 

[Bob111]

http://finance.yahoo.com/marketupdate/overview?u

Bank of America (BAC 11.785, +1.08) is garnering some of the strongest interest amid reports that analysts at Goldman Sachs have added shares of BAC to their Conviction Buy List. The vote of confidence has also won support for other diversified bank stocks (+6.3%) and diversified financial services companies (+5.9%).

:eek:

 

[makloda]

I am surprised this buy recommendation from GS didn't come with a $5bln capital raise attached

 

[piezoe]

Hey, wasn't it Goldman that told us just a few weeks ago to Not buy financials.???

 

[Ivanovich]

Right, that's because THEY wanted to buy them.

If BoA is so healthy, why won't it repay those funds it got from the government/tax payer?

 

[CET]

Quote from piezoe:

Hey, wasn't it Goldman that told us just a few weeks ago to Not buy financials.???

I believe it was Morgan Stanley that came out about a month ago saying to sell the rally. Goldman is just helping BAC sell those shares at market for the required capital raise. The Fed would not be happy with Goldman if they did not finish the pump and dump job on financial stocks until the capital raises are finished. Everyone should feel good that the 'banks" meeting the 4% TCE are only 25 to 1 leverage. Sleep tight. :eek:

 

[Blue_Ice]

They build their position while downgrading the stock, now that position is ripe and the price is high, they "upgrade" the stock to a "strong buy" so they can conveniently sell.

Rinse and repeat, while people applaud.

What a shame!!

 

[noob_trad3r]

Thats what I was thinking. They can upgrade the stock and then buy puts. That would not be illegal right?