According to Goldman Sachs, Bank of America BAC estimates are unchanged.
Goldman Sachs said that Bloomberg and several other news sources are reporting that BAC is close to an $8.5bn settlement with a group of 22 private label MBS investors including BlackRock, Met Life, PIMCO and the Federal Reserve Bank of New York. “Our 12-month price target remains $15 and is based on 8.5X our 2012 EPS estimate of $1.75. Our estimates are unchanged at this point.”
Bank of America closed yesterday at $10.82.
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Posted In: Analyst ColorAnalyst RatingsBank of AmericaFinancialsGoldman SachsOther Diversified Financial Services
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