A Downgraded Target for Bank of America, But a Surprising Upgrade Is Turning Heads
Bank of America Corporation (NYSE:BAC) is among the 13 Cheapest Strong Buy Stocks to Buy Right Now. On April 1, HSBC analyst Saul Martinez upgraded Bank of America Corporation (NYSE:BAC) to Buy from Hold with a price target of $55, reduced from $57, citing a shift in market dynamics that has repriced downside macroeconomic risks and renewed credit concerns across U.S. bank stocks. The analyst noted that the multi-year return on equity expansion narrative for universal banks is now less fully reflected in ...