Tax Plan Can Boost Bank Earnings Estimates, Says Cassidy

The transcript discusses the current target prices for banks, particularly JP Morgan, and the potential impact of tax reform on earnings and target prices. It highlights the need to reassess forecasts if tax reform is enacted, as it could significantly boost earnings. The discussion also covers the influence of regulatory changes and economic growth on bank performance. Recommendations for top bank stocks, including Bank America, Citigroup, and PNC Financial, are provided, emphasizing their potential for investment.

What is the expected impact of tax reform on earnings estimates according to the speaker?

• Earnings estimates will decrease.

• Earnings estimates will remain the same.

• Earnings estimates will be unpredictable.

• Earnings estimates will increase.

How does the speaker describe the challenge of quantifying upcoming regulatory changes?

• It is already quantified.

• It is unnecessary to quantify.

• It is very hard to quantify.

• It is straightforward and easy.

What is the potential increase in earnings for M&T Bank Corp if their tax rate is lowered to 20%?

• 10%

• 15%

• 25%

• 20%

What was the effect of chairman elect Powell's comments on bank stock prices?

• They had no effect.

• They caused stock prices to crash.

• They were negative for stock prices.

• They were positive for stock prices.

Which banks are recommended as top picks for investors?

• Deutsche Bank and HSBC

• Goldman Sachs and Wells Fargo

• Morgan Stanley and Barclays

• Bank America and Citigroup