November 19, 2012 at 12:17 PM EST
Bank Of America Seen As Set To Outperform Rivals
Bank of America (BAC) shares surged on an upgrade from a Stifel Nicolaus analyst who thinks it's poised to outperform other large banks over the next two years. In a research note Monday, the firm said the No. 2 bank by deposits is "under-owned," despite an improved capital position, and a likely dividend increase. The firm notes that declining operating expenses "more than offsets sluggish revenue growth stemming from the continuation of a low
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