TD Cowen cut its target for Bank of America shares from $60 to $56, signaling a less favorable view. The note gives no new bank results, so it is a limited warning, not proof the business worsened.
The cut signals TD Cowen now sees less room for Bank of America shares to rise than before. The note gives no new bank results, so it is a negative analyst view, not proof that the bank's business worsened.
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