Paul Miller

BofA Needs $80 Billion in Fresh Capital: Analyst 

Friedman, Billings, Ramsey analyst Paul Miller made waves Tuesday by suggesting that Bank of America Corp. [stock BAC][/stock] needs more than $80 billion in new common equity capital, thanks to a ballooning balance sheet of assets tied to its acquisitions of Countrywide Financial and Merrill Lynch. Miller suggested that BofA would also need to cut its dividend to preserve capital, and moved his target price to $5/share.