In all fairness, there were no downgrades that we were able to find. For the most part, Mr. Bove has been BULLISH+++ on the prospects for Bank of America over the past few years. Every once in a while, CNBC and other fine media outlets brings him in as an expert to provide insight and his outlook for this broken name.
Just for fun, we thought it would be interesting to see a history of Mr. Bove’s recommendations on Bank of America (BAC), price targets and how they have checked out.
You make the call… the “B” in the green boxes is for Buy or Maintain with a price target change. The “S” in the red boxes are for Sell or Reduce with a price change.
Note: the reason that you cannot see the red boxes is not that they are hidden, rather it is because they are non-existent.
The White Line represents the price-target at the time of the recommendation and the gold line is the actual price of BAC shares.
(Data from Bloomberg through 11/4/11)