Bank of America Given New $12.50 Price Target at Goldman Sachs (BAC)
Investment analysts at Goldman Sachs upped their target price on shares of Bank of America (NYSE: BAC) from $12.00 to $12.50 in a note issued to investors on Monday.
Bank of America traded down 0.17% on Monday, hitting $12.09. Bank of America has a 52-week low of $6.19 and a 52-week high of $12.15. The stock’s 50-day moving average is currently $10.62. The company has a market cap of $130.3 billion and a price-to-earnings ratio of 32.73.
Bank of America last announced its earnings results on Wednesday, October 17th. The company reported $0.00 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.06) by $0.06. The company’s revenue for the quarter was down 28.0% on a year-over-year basis. On average, analysts predict that Bank of America will post $0.43 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on BAC. Analysts at Wells Fargo reiterated a “market perform” rating on shares of Bank of America in a research note to investors on Monday. Separately, analysts at ISI Group raised their price target on shares of Bank of America from $13.00 to $14.00 in a research note to investors on Monday. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Bank of America in a research note to investors on Friday. They now have a $11.00 price target on the stock, up previously from $9.00.
Eleven research analysts have rated the stock with a buy rating, one has given an overweight rating, twenty-one have given a hold rating, two have given an underweight rating, and one has given a sell rating to the stock. Bank of America has an average rating of “overweight” and a consensus target price of $11.27.
Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company.