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BofA set to outperform rivals

Stifel Nicolaus upgraded the bank to a buy rating and raised its price target to 11. The firm said Bank of America (BAC) is "under-owned," despite an improved capital position, and a likely dividend increase. The firm notes that declining operating expenses "more than offsets sluggish revenue growth stemming from the continuation of a low interest rate and tepid loan growth environment." Shares rose 4.1%.