Bank of America Stock Valuation Caution, GE Capital Opens Credit Facility, Comcast Ups Dividend

Bank of America Corp (NYSE:BAC): Bank of America downgraded to market perform from outperform at Bernstein. Bernstein downgraded Bank of America based on valuation. Price target remains $9.

General Electric (NYSE:GE): GE Capital’s Telecom, Media and Technology financing business announced it served as administrative agent on a new $380M credit facility for Lightower Fiber Networks, the premier metro fiber and bandwidth service provider in the Northeast,. GE Capital Markets served as joint bookrunner and joint lead arranger on the transaction.

Zynga Inc (NASDAQ:ZNGA): BofA/Merrill downgraded Zynga based on valuation. Price target lowered to $10 from $13.50.

Comcast Corporation (NASDAQ:CMCSA): Comcast board increases dividend 44% to 65c per share on annualized basis. In accordance with the increase, the Board of Directors declared a quarterly cash dividend of 16.25c a share on the company’s common stock, payable on April 25, 2012 to shareholders of record as of the close of business on April 4, 2012.

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com