Raymond James Increases Bank of America Corp. Price Target to $17.00 (BAC)
Research analysts at Raymond James increased their price objective on shares of Bank of America Corp. (NYSE:BAC) from $16.00 to $17.00 in a report released on Thursday, StockRatingsNetwork.com reports. Raymond James’ price objective points to a potential upside of 9.18% from the company’s current price.
Shares of Bank of America Corp. (NYSE:BAC) traded up 3.60% during mid-day trading on Thursday, hitting $16.13. 124,610,712 shares of the company’s stock traded hands. Bank of America Corp. has a one year low of $10.98 and a one year 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 $172.0 billion and a price-to-earnings ratio of 23.73.
Bank of America Corp. (NYSE:BAC) last released its earnings data on Wednesday, October 16th. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters 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. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts expect that Bank of America Corp. will post $0.89 EPS for the current fiscal year.
BAC has been the subject of a number of other recent research reports. Analysts at Citigroup Inc. upgraded shares of Bank of America Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Thursday. They now have a $19.00 price target on the stock, up previously from $16.00. Separately, 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. Finally, 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. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the stock. Bank of America Corp. has an average rating of “Hold” and an average price target of $15.17.
Bank of America Corporation (NYSE:BAC) is a bank holding company, and a financial holding company.
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