Analyst Rating Update on Bank of America Corporation (BAC)

Bank of America Corporation (BAC) : Zacks Investment Research ranks Bank of America Corporation (BAC) as 3, which is a Hold recommendation. 13 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 1 other analysts are mildly bullish on the stock and favor a Buy. A total of 6 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 20 research analysts is 1.65, which indicates as a Buy.

Bank of America Corporation (BAC) : The highest level Bank of America Corporation (BAC) is projected to reach is $20 for the short term and the lowest estimate is at $15. The consolidated price target from 16 rating analysts who initiate coverage on the stock is $17.47 and the possibility the share price can swing is $1.65.

For the current week, the company shares have a recommendation consensus of Buy. Also, Major Brokerage house, Citigroup maintains its ratings on Bank of America Corporation (NYSE:BAC). In the latest research report, Citigroup raises the target price from $16 per share to $17 per share. According to the latest information available, the shares are now rated Buy by the analysts at the agency. The rating by the firm was issued on July 19, 2016.


Bank of America Corporation (NYSE:BAC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $14.11 and $14.10 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $14.48. The buying momentum continued till the end and the stock did not give up its gains. It closed at $14.48, notching a gain of 2.48% for the day. The total traded volume was 65,162,668 . The stock had closed at $14.13 on the previous day.

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers, small- and middle-market businesses, institutional investors, corporations and Governments with a range of banking, investing, asset management and other financial and risk management products and services. Through its banking and various nonbank subsidiaries, it provides a range of banking and nonbank financial services and products. It operates in five segments: Consumer & Business Banking, which offers a range of credit, banking and investment products and services to consumers and businesses; Consumer Real Estate Services, which provides a line of consumer real estate products and services; Global Wealth & Investment Management, which provides wealth management solutions; Global Banking, which provides a range of lending-related products and services, and Global Markets, which offers sales and trading services.

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