John Paulson lowers long term view on Bank of America
|October 22nd, 2010||
|Contributed by: Teri Buhl|
|John Paulson told investors today he still likes his long trade in Bank of America but has now lowered his outlook on how far robust the bank can book earning per shares in 2012. Last summer Paulson, the well-known founder of hedge fund manager Paulson & Co, was telling investors he predicts BofA to score a whopping $3 EPS by the begining of 2012. Today he changed that target to $2.66 normalized EPS in 2012. If you assume a price to earning ratio of 10 that would equal around $26 dollars a share on $BAC. Jon Paulson’s 167 million shares of this mega bank sits in his Paulson Recovery Fund.|
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