Bank of America Corp. Price Target Increased to $17.00 by Analysts at Evercore Partners (BAC)
Evercore Partners raised their price objective on shares of Bank of America Corp. (NYSE:BAC) from $16.00 to $17.00 in a research note issued on Thursday, ARN reports. The firm currently has an “overweight” rating on the stock. Evercore Partners’ price objective suggests a potential upside of 15.96% from the company’s current price.
Bank of America Corp. (NYSE:BAC) traded up 0.69% on Thursday, hitting $14.66. 94,090,792 shares of the company’s stock traded hands. Bank of America Corp. has a 1-year low of $8.70 and a 1-year high of $15.03. The stock has a 50-day moving average of $14.24 and a 200-day moving average of $13.56. The company has a market cap of $157.5 billion and a P/E ratio of 31.86.
Bank of America Corp. (NYSE:BAC) last released its earnings data on Wednesday, October 16th. The company reported $0.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.19 by $0.01. The company had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.11 billion. Bank of America Corp.’s revenue was up 5.3% compared to the same quarter last year. Analysts expect that Bank of America Corp. will post $0.89 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at ISI Group initiated coverage on shares of Bank of America Corp. in a research note to investors on Tuesday, October 8th. They set a “buy” rating on the stock. Separately, analysts at Guggenheim cut their price target on shares of Bank of America Corp. from $17.00 to $16.00 in a research note to investors on Monday, September 30th. Finally, analysts at UBS AG raised their price target on shares of Bank of America Corp. from $14.50 to $15.50 in a research note to investors on Friday, September 27th. They now have a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $14.70.
Bank of America Corporation (NYSE:BAC) is a bank holding company, and a financial holding company.
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