This morning, Societe Generale initiated coverage on shares Bank of America (NYSE:BAC) with a buy rating and JP Morgan (NYSE:JPM) with a hold rating. In the report, the firm noted that Bank of America's cost cutting efforts and revenue growth potential are compelling catalysts for the stock and set a $17 price target. Societe Generale noted that JP Morgan's stock price could be flat in the near term as additional scrutiny could be possible following the settlement with regulators this week. In the report, JP Morgan received a $56 price target. Shares of Bank of America were lower by 0.4% today, while shares of JP Morgan were higher by 0.8%.
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