Evercore Partners Upgrades Bank of America to Overweight (BAC)

By admin | 6 years ago

Bank of America (NYSE: BAC) was upgraded by analysts at Evercore Partners from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Monday. The firm currently has a $10.00 price target on the stock.

A number of other analysts have also recently weighed in on BAC. Analysts at Citigroup (NYSE: C) downgraded shares of Bank of America from a “market perform” rating to an “underperform” rating in a research note to investors on Monday, May 21st. Separately, analysts at JMP Securities downgraded shares of Bank of America from a “market perform” rating to an “underperform” rating in a research note to investors on Monday, May 21st. They now have a $5.50 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Bank of America in a research note to investors on Friday, April 20th. They now have a $9.25 price target on the stock.

Bank of America traded up 2.25% on Monday, hitting $7.055. Bank of America has a 52-week low of $4.92 and a 52-week high of $11.25. The company’s market cap is $76.030 billion.

Bank of America last posted its quarterly earnings results on Thursday, April 19th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by $0.08. The company’s revenue for the quarter was down 17.0% on a year-over-year basis. Analysts expect that Bank of America will post $0.17 EPS next quarter.

Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company.

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