Bank of America resumed coverage on Credit Suisse with a buy rating now that the Swiss bank successfully raised 4 billion Swiss francs. The broker pointed out that it now has the same market cap as Julius Baer but is 1.5 times larger in wealth management, while also having a leading domestic bank and asset management business. Its new price target is 3.60 francs, or $3.83 per ADR, down from a pre-rights offering price of 4.20 francs.
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