FBR Capital likes PNC, JPMorgan, U.S. Bancorp and Bank of America.
BANK EARNINGS SEASON KICKS off with JPMorgan Chase's (ticker: JPM) results on July 15.
Given the year-to-date underperformance of the largest six banks compared to the regional banks, we favor the big banks into second-quarter earnings as we expect visibility into the impacts of the financial-reform bill will improve, which should relieve some of the uncertainty that has weighed on these stocks.
As a result, we are upgrading U.S. Bancorp (USB) to Outperform from Market Perform, and we favor PNC Financial Services (PNC), JPMorgan, U.S. Bancorp and Bank of America (BAC) in that order.
.....
source: wsj
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment