Yahoo Finance
We recently publishedJim Cramer's Biggest Losers: 10 Stocks That Just Didn't Work Out.
Bank Of America Corp (NYSE:BAC) is one of the stocks discussed by Jim Cramer.
Banking giant Bank Of America Corp (NYSE:BAC)'s shares are up by 20.7% over the past year and by 5% year-to-date.
Citi discussed the firm on June 23rd as it raised the share price target to $66 from $62 and kept a Buy rating on the shares.
Citi based its coverage on Bank Of America Corp (NYSE:BAC)'s management commentary and outlined that it expected the firm to deliver strong second quarter earnings.
A couple of days later, on the 29th, Morgan Stanley also raised the share price target.
It hiked Bank Of America Corp (NYSE:BAC)'s price target to $67 from $61 and kept an Overweight rating on the stock on the back of an expected buildup in revenue momentum.
The shares currently trade at a trailing price-to-earnings ratio of 14.6 and a forward P/E ratio of 13.21.
Even though Cramer had asserted in January that the stock should be trading at a P/E of 15, it seems that the market doesn't agree with him: "Look, Bank of America, okay, that sells at 15 times earnings.
I'm sorry that's an insult to Brian Moynihan.
15 times earnings, they have a lot of technology, they've done a really good job, they keep adding accounts.
So you can buy that and have it go higher." While we acknowledge the potential of BAC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk.
| Product | Price | Change |
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| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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