Alert: Positive Investment/Fundamental Signals (11/16/23)-Bank of America Corp (NYSE: BAC)


Recent extremely meaningful positive changes in investment behavior have benefitted Bank of America Corp (NYSE: BAC): its shorter term price trend turned up, and the stock’s recent price rise disrupted its longer term downtrend.

Bank of America Corp (NYSE: BAC) has recently enjoyed significant positive changes in fundamentals: significant quarterly earnings acceleration occurred, and significant quarterly sales acceleration occurred.

In light of these very positive signals we are reviewing our current Overall Rating of B. 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 B (Positive). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Bank of America has a very high Appreciation Score of 95 but a neutral Power Rating of 48, leading to the Positive Value Trend Rating.

Recent Price Action

Bank of America Corp (NYSE: BAC) stock closed at $29.54 on 11/16/23 after a slight decline of -0.3%. The stock has performed in line with the market over the last nine months and has risen 5.9% during the last week.

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