News Formal

Bank of America upgraded to market perform at KBW because ‘the fever broke’ around bond yields

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 97%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

KBW’s David Konrad sees valuation boost for the bank as Treasury yields drop well below 5%.

Bank of America Corp. has drawn an upgrade to market perform from underperform at Keefe, Bruyette & Woods after “the fever broke” around higher bond yields that have impacted bank stocks.

“The fever broke,” Konrad said in a research note published on Sunday. “We believe the lower rates may drive favorable positioning in stock, and we believe the stock’s valuation is more attractive.” “Although we expect challenging NII results over the next two quarters, we believe NII will level out in 2024 and show modest growth in 2025, partly due to less pressure on debt costs,” Konrad said.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 3. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Bank of America Corp. stock falls Monday, underperforms marketSupported by world-class markets data from Dow Jones and FactSet, and partnering with Automated Insights, MarketWatch Automation brings you the latest, most pertinent content at record speed and with unparalleled accuracy.
La source: MarketWatch - 🏆 3. / 97 Lire la suite »