Well-known banking analyst, Dick Bove of Rochdale Research was on CNBC to discuss the compensation of big bank CEOs, the outlook on financials and the possible downgrade on Morgan Stanley.
Despite the threat from Moody's of a possible downgrade of Morgan Stanley (MS, Financial), Bove is very bullish on cash-rich Morgan Stanley and believes Moody's is a lagging indicator
He also discussed his thoughts on Bank of America (BAC, Financial). He believes BOA has $2.75-$3 per share earning power and should be in the mid-$20s to $30s in the next couple of years and investors should be aggressively buying its stock despite a run-up in its share price recently.
Here is the video:
Despite the threat from Moody's of a possible downgrade of Morgan Stanley (MS, Financial), Bove is very bullish on cash-rich Morgan Stanley and believes Moody's is a lagging indicator
He also discussed his thoughts on Bank of America (BAC, Financial). He believes BOA has $2.75-$3 per share earning power and should be in the mid-$20s to $30s in the next couple of years and investors should be aggressively buying its stock despite a run-up in its share price recently.
Here is the video:
