Goldman Sachs Reports Unchanged Estimates On Bank of America

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.