Richard Bove, the media's analyst of choice, has been a bank bull for some time now, but he's not about to tell anyone to take their chips off the table. In fact, he seems more willing to double down. He thinks large bank stocks will double by the end of 2011, notes Fortune. 

He predicates his optimism on the huge loan-loss reserve hikes and cash stockpiles at big banks. Citigroup (C) now has $244 billion in cash, almost double what it had last fall. Bove says this extraordinary reserving activity will pay dividends once the economy improves; some banks may be able to reduce their loan-loss reserves, and thus bump up earnings.

The logic depends of course on your view of debt quality--and the economy. There are plenty of analysts who think banks will have to reserve more, limiting their upside. Bove is bullish on Citigroup, Bank of America (BAC), Morgan Stanley (MS), Goldman Sachs (GS) and JP Morgan Chase (JPM). Unfortunately, he's a bear on Wells Fargo (WFC). 

For more:
- here's the article

Related Articles:
Why has Morgan Stanley rallied?
Bove sinks Bank of America stock
Bove to avoid instant on-air analysis
What to make of Citi's plans?