Bank of America Corp (NYSE: BAC). Meaningful positive changes in fundamentals have recently occurred: the stock’s power rating rose above 70, significant quarterly sales acceleration occurred, and significant quarterly earnings acceleration occurred.
Significant positive changes in investment behavior have recently occurred for Bank of America Corp (NYSE: BAC): the stock’s recent price rise disrupted its longer term downtrend.
In light of these very positive signals we are reviewing our current Overall Rating of A. We would continue to view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, BAC is expected to continue to be an important Value Builder.
Bank of America has a current Value Trend Rating of A (Highest Rating). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing consistent signals. Bank of America has a good Power Rating of 72 and a very high Appreciation Score of 95, and the Highest Value Trend Rating results.
Recent Price Action
Bank of America Corp (NYSE: BAC) stock declined slightly by -0.09% on 1/10/24. The stock closed at $33.60. However, trading volume in this decline was below average at 82% of normal. The stock has been strong relative to the market over the last nine months but has declined -0.9% during the last week.
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