Oppenheimer Has Perform On BB&T (BBT)

Oppenheimer & Co. has a Perform rating on shares of BB&T Corporation BBT going into earnings. In a note to clients, Oppenheimer writes, "One of the core reasons behind our Perform rating is the expected "lumpiness" to credit trends over the near term related to the company's accelerated asset disposition strategy. Unfortunately, the costs involved with this activity are expected to overshadow the underlying strength and growth opportunities across BB&T. While the valuation of BB&T has come down in line with the stock price, we believe upside over the near- to mid-term is limited until investors have a better feel for the ultimate loss content in certain segments of the company's loan portfolio." Shares of BBT lost 30 cents yesterday to close at $22.62.