Ladenburg Analyst Dick Bove Defends Bank of America (BAC)
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Price: $48.64 -1.8%
Rating Summary:
26 Buy, 18 Hold, 2 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
26 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Ladenburg Thalman banking analysts Dick Bove is out in defense of Bank of America (NYSE: BAC) today following the recent weakness in the stock on nationalization talk.
Bove said BofA is cash flow positive and not in danger of failure. He said the fears of nationalization makes no sense. He also calls Bank of America a strong buy here.
Shares of Bank of America are up 9.7% in pre-open trading to $5.31.
Yesterday afternoon, five BofA insiders, including CEO Ken Lewis, disclosed recent open market purchases of the stock. The insiders are trying to send a message to the market that it "won't be nationalized."
Bove said BofA is cash flow positive and not in danger of failure. He said the fears of nationalization makes no sense. He also calls Bank of America a strong buy here.
Shares of Bank of America are up 9.7% in pre-open trading to $5.31.
Yesterday afternoon, five BofA insiders, including CEO Ken Lewis, disclosed recent open market purchases of the stock. The insiders are trying to send a message to the market that it "won't be nationalized."
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