All the guy is saying is that BAC probably doesn't have a lot of room for much more of an increase, but by raising the target to $10, he is stating this is a fair level. You all need to quit jumping to conclusions just because someone says something you don't agree with. As I've been stating all along, this has been a good run, but to keep it going BAC must demonstrate on April 19th that operating earnings are on the mend. It's all about earnings now.
It was to be expected though. BAC has had a remarkable runup in the stock price. That people would think it has gotten ahead of itself is not surprising. As I've stated before, April 19th is going to be very important as it will provide the evidence whether the recent rise is justified or not. BAC does still have plenty of issues it needs to deal with before the all clear signal can be sounded.
Let them downgrade, opinion means nothing. It is the auditors who count. But if you read the opinion closely, you will see they talk out of both sides of their mouth. The earnings prediction actually rose.
I agree with you a neutral downgrade is only stating they really don't know. If BAC is the second largest bank in America, and the 1st largest bank JP Morgan Chase is trading at 45.92 then BAC should be at least 25.00. Not to mention with the downgrade this morning, big buy orders are still coming in.