Goldman Sachs Reiterates Buy on Bank of America

Goldman Sachs is out with its report today on Bank of America BAC, reiterating Buy. In its report, Goldman Sachs writes, "We reiterate our Buy rating, as we continue to believe the market is overly discounting a more adverse outcome than we foresee playing out. Additionally, we have revised our 2011 and 2012 EPS estimates from ($0.25) and $1.25, respectively, to ($0.26) and $1.20 in order to reflect Berkshire Hathaway's $5bn investment." Goldman Sachs maintains a $10 PT on BAC. At the time of posting, shares of BAC were trading pre-market at $7.55, down 1.31% from Thursday's close.