Bank of America Corporation (BAC) Receives Price Target

Bank of America Corporation (BAC) : 13 Wall Street analysts covering Bank of America Corporation (BAC) believe that the average level the stock could reach for the short term is $17.58. The maximum price target given is $20 and the minimum target for short term is around $15, hence the standard deviation is calculated at $1.68.

Bank of America Corporation (BAC) has an average broker rating of 1.65, which is interpreted as a Buy, as rated by 17 equity analysts. Nonetheless, 11 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. 1 other analysts advise a Buy. Nevertheless, the majority of 5 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold.


Also, Equity analysts at the Brokerage firm Citigroup maintains its rating on Bank of America Corporation (NYSE:BAC). The rating major has initiated the coverage with buy rating on the shares. The Analysts at Citigroup 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): The stock opened at $16.15 on Thursday but the bulls could not build on the opening and the stock topped out at $16.15 for the day. The stock traded down to $15.75 during the day, due to lack of any buying support eventually closed down at $15.98 with a loss of -0.99% for the day. The stock had closed at $16.14 on the previous day. The total traded volume was 128,812,599 shares.

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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