BofA, Nokia, Pfizer, TOTAL Attract Heavy Trading Demand March 27th
Bank of America Corp (NYSE:BAC): Baird downgraded Bank of America based on valuation. Price target raised to $10 from $9. A number of the 19 large banks whose “stress test” results were recently released want the Fed to explain their math, reports the Wall Street Journal. The healthy banks want to understand why there were some significant gaps between their capital estimates and the Fed’s, sources say.
Nokia Corporation (NYSE:NOK): China is now the market that activates the most new Android (NASDAQ:GOOG) and iOS (NASDAQ:AAPL) smartphones in the world, but Nokia (NYSE:NOK) remains the country’s most active smartphone, though Android could well overtake it this year if current sales trends continue, according to The Next Web.
Pfizer Inc. (NYSE:PFE): Goldman said Pfizer could go further to unlock value following the Animal Health and Nutrition separation. The analyst believes the company could separate the Pharma and Generics businesses in two or three years, its the pipeline proves successful, and notes the CEO’s openness to unlock value further. Shares are Buy rated with a price target of $26, up from $25.
TOTAL S.A. (NYSE:TOT): Total is retreating after the French energy company confirmed that gas is leaking from one of its platforms into the sea off of Scotland. A sheen has formed in the area, Total said. A vessel owned by Rowan (NYSE:RDC), which also confirmed that a spill had occurred, was working on the platform. Analysts, including those at Bernstein, believe Total’s stock is overreacting to the downside on the incident.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.
To contact the reporter on this story: Derek Hoffman at firstname.lastname@example.org
To contact the editor responsible for this story: Damien Hoffman at email@example.com