Nervousness over Bank of America earnings

We've seen a lot of equity analysts turn bullish on Bank of America. Some have waxed surprisingly optimistic, but there's still quite a bit of risk out there if you ask Citi analyst Keith Horowitz. Bucking the trend, he has told clients that he expects Bank of America to report a quarterly loss of 11 cents a share. The average analyst estimate is for a profit of 27 cents, notes MarketWatch. 

The publication quotes the analyst saying: "Bank of America remains heavily exposed to consumer (and less on commercial) and thus will continue to see more credit deterioration than peers in 2Q. However, we expect Bank of America will emerge from this cycle faster than peers as we expect consumer loan loss provisions to peak in late '09, while commercial will peak in late 2010."

So it isn't all negative. We'll see if other analysts get more cautious as crunch time nears. 

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