Bank of America Corp. Stock Rating Upgraded by Citigroup Inc. (BAC)
Bank of America Corp. (NYSE:BAC) was upgraded by analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports.
A number of other firms have also recently commented on BAC. Analysts at TheStreet upgraded shares of Bank of America Corp. from a “hold” rating to a “buy” rating in a research note to investors on Thursday, December 12th. Separately, analysts at Guggenheim raised their price target on shares of Bank of America Corp. from $16.00 to $17.00 in a research note to investors on Tuesday, December 3rd. They now have a “neutral” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Bank of America Corp. in a research note to investors on Monday, December 2nd. They now have a $16.50 price target on the stock. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $14.98.
Shares of Bank of America Corp. (NYSE:BAC) opened at 15.57 on Thursday. Bank of America Corp. has a 52-week low of $10.98 and a 52-week high of $15.98. The stock has a 50-day moving average of $15.42 and a 200-day moving average of $14.43. The company has a market cap of $166.1 billion and a P/E ratio of 23.69.
Bank of America Corp. (NYSE:BAC) last posted its quarterly earnings results 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.
Bank of America Corporation (NYSE:BAC) is a bank holding company, and a financial holding company.
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