Bank of America Corporation (BAC) Receives ‘Analyst’ Rating

Bank of America Corporation (BAC) : The consensus on Bank of America Corporation (BAC) based on 17 analyst recommendation on the company stock is 1.65, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 11 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 5 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

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 13 rating analysts who initiate coverage on the stock is $17.58 and the possibility the share price can swing is $1.68.


Also, In the latest statement by the brokerage house, Citigroup maintains its outlook on Bank of America Corporation (NYSE:BAC). The current rating of the shares is Buy, according to the research report released by the firm. The brokerage firm raises the price target from $16 per share to $17 per share. The rating by the firm was issued on July 19, 2016.

Bank of America Corporation (NYSE:BAC): After opening at $15.64, the stock dipped to an intraday low of $15.58 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $15.745 and the buying power remained strong till the end. The stock closed at $15.67 for the day, a gain of 0.26% for the day session. The total traded volume was 67,899,709. The stocks close on the previous trading day was $15.63.

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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