Bank of America's Valuation Is Seen as Invitation for Activists

  • CLSA's Mike Mayo raises BofA shares to buy from sell
  • Sees `outside shot' demands will emerge for restructuring

Bank of America Corp. was raised to buy from sell by Mike Mayo, an analyst at CLSA Ltd., who said the company’s low valuation and “lousy” efficiency increase the chance shareholders will demand a spinoff or other type of restructuring.

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