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Bank of America price target raised to $57 from $52 at Keefe Bruyette

Keefe Bruyette raised the firm’s price target on Bank of America (BAC) to $57 from $52 and keeps an Outperform rating on the shares following a transfer of coverage. The firm is bullish on the long-term structural benefits of scale for the large-cap banks. It prefers business models that can produce leading returns with high degrees of predictability.

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