Standpoint Research Upgrades Bank of America To Accumulate (BAC)

Standpoint Research has upgraded shares of Bank of America

from Hold to Accumulate this morning. Standpoint analyst Ronnie Moas wrote, "Although there is still some uncertainty surrounding this stock, at 1.15X tangible book value, the market in its recent sell-off seems to have discounted a worst-case scenario with regards to real estate exposure and other well-known and documented issues, although there still remains some institutional selling pressure." Standpoint has a 2011-2012 price target on the stock of $18. The firm continues to be underweight the financial sector. During today's trading session, BAC shares have gained 1.13% to $13.02. Year-to-date, the stock has lost 13.55%.