Morgan Stanley Says 6 Quarters is Too Long for Bank of America

In a recent research report, Morgan Stanley has stated that Bank of America (NYSE: BAC) will trade in a tight range until it can generate 25c+ quarterly EPS (mid-2013).

Morgan Stanley said in the report, “Expect catalysts to re-emerge as RMBS settlement decision approaches, rate pressure fades and European deleveraging is further along. Stock likely to trade side-ways until BAC can grow earnings.”

Morgan Stanley maintains its Equal-weight rating and $7.00 PT on Bank of America, which closed Friday at $7.07.