Mike Mayo, a very popular financial analyst who left Deutsche Bank for Calyon Securities, is out with an underweight or sell rating on the following banks. Mike Mayo says that loan losses will exceed levels from the Great Depression.
Mike Mayo Bank List - 4/6/09
Sell Rating:
BB&T Corporation ( BBT )
Fifth Third Bancorp ( FITB )
KeyCorp ( KEY )
SunTrust Banks, Inc. ( STI )
U.S. Bancorp ( USB )
Underperform Rating:
Bank of America Corporation ( BAC )
Comerica Incorporated ( CMA )
JPMorgan Chase & Co ( JPM )
Citigroup Inc. ( C )
Wells Fargo & Company ( WFC )
PNC Financial Services ( PNC )
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