ROYAL BANK ADS (RBS)

[mlkrborn]

RBS climbs as BofA Merrill Lynch hike target
Last update: 4/16/2010 4:21:20 AM
Royal Bank of Scotland (UK:RBS) (RBS) shares shot 7% higher to 49 pence as Bank of America Merrill Lynch raised its price target to 65 pence from 45 pence. "We still believe RBS is one of most geared banks into recovery in Europe. We think it can turn a profit in 2010 and that profitability can recover strongly thereafter driven by rising margins, tight cost control and falling bad debts," the broker said. Morgan Stanley added that it prefers RBS over Lloyds (UK:LLOY) though it has both at equal-weight.
-Steve Goldstein; 415-439-6400; [e-mail]