Merrill Lynch "buy"

03/30/06 - Punk Ziegel & Co.

NEW YORK, March 30 (newratings.com) - Analyst Richard X Bove of Punk Ziegel & Co maintains his "buy" rating on Merrill Lynch (MER). The target price is set to $94.

In a research note published this morning, the analyst mentions that although the company is likely to post a y/y rise in its Q1 earnings, the results are expected to be short of the previous quarter’s levels. Merrill Lynch’s investment management business is likely to have benefited from the healthy trends in the equity markets during the quarter, the analyst adds.