Bank of America Gets a Buy Rating from Jefferies

By Austin Angelo

In a report released yesterday, Ken Usdin from Jefferies reiterated a Buy rating on Bank of America (NYSE: BAC), with a price target of $34. The company’s shares closed yesterday at $29.93.

According to TipRanks.com, Usdin is a top 25 analyst with an average return of 26.5% and a 87.8% success rate. Usdin covers the Financial sector, focusing on stocks such as Huntington Bancshares Inc, Fifth Third Bancorp, and Regions Financial.

Currently, the analyst consensus on Bank of America is Strong Buy and the average price target is $35.25, representing a 17.8% upside.

In a report released yesterday, Vining Sparks also initiated coverage with a Buy rating on the stock with a $35 price target.

The company has a one-year high of $33.05 and a one-year low of $22.07. Currently, Bank of America has an average volume of 77.02M.

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