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Report: Hard Road Ahead for Banks.(Citigroup Inc. and BankAmerica Corp.)(Brief Article)
New York -- Analysts at Merrill Lynch have reduced their ratings on the stock of Citigroup and Bank of America from "buy" to "neutral."
With regard to Citigroup, Merrill Lynch said in a report that the stock offers value "but has few positive catalysts and we are concerned estimates are too high."
They said Citi's spending is growing faster than revenue as the company tries to maintain or grow business volumes.
At Bank of America, Merrill Lynch says that a flatter yield curve and concern ...
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