Bank of America Corp. Given New $16.00 Price Target at Guggenheim (BAC)
Stock analysts at Guggenheim lowered their target price on shares of Bank of America Corp. (NYSE:BAC) from $17.00 to $16.00 in a report issued on Monday, Stock Ratings Network.com reports. Guggenheim’s target price suggests a potential upside of 15.94% from the stock’s previous close.
A number of other firms have also recently commented on BAC. Analysts at UBS AG raised their price target on shares of Bank of America Corp. (NYSE:BAC) from $14.50 to $15.50 in a research note to investors on Friday. They now have a “neutral” rating on the stock. Separately, analysts at Goldman Sachs Group Inc. downgraded shares of Bank of America Corp. (NYSE:BAC) from a “buy” rating to a “neutral” rating in a research note to investors on Friday. Finally, analysts at Societe Generale initiated coverage on shares of Bank of America Corp. (NYSE:BAC) in a research note to investors on Thursday, September 19th. They set a “buy” rating and a $17.00 price target on the stock. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company. Bank of America Corp. currently has a consensus rating of “Hold” and a consensus target price of $14.39.
Shares of Bank of America Corp. (NYSE:BAC) traded down 0.72% on Monday, hitting $13.80. 104,439,896 shares of the company’s stock traded hands. Bank of America Corp. has a 52-week low of $8.88 and a 52-week high of $15.03. The stock has a 50-day moving average of $14.34 and a 200-day moving average of $13.4. The company has a market cap of $148.3 billion and a price-to-earnings ratio of 30.42.
Bank of America Corp. (NYSE:BAC) last announced its earnings results on Wednesday, July 17th. The company reported $0.32 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.25 by $0.07. The company had revenue of $22.95 billion for the quarter, compared to the consensus estimate of $22.61 billion. During the same quarter last year, the company posted $0.19 earnings per share. On average, analysts predict that Bank of America Corp. will post $0.90 earnings per share for the current fiscal year.
Bank of America Corporation (NYSE:BAC) is a bank holding company, and a financial holding company.
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