Bank of America Corporation (NYSE:BAC) Short-term Price Target Review

Bank of America Corporation (NYSE:BAC) has been given a consensus price target of $18.928 on shares. Out of all the covering analysts polled by Zacks Research that were included for this target, the analyst with the highest price target sees the stock hitting $24. The lowest analyst target price has shares going to $15. These targets may differ between covering analysts.  

Analysts have the ability to use resistance and support levels to help evaluate a stock target price. Zacks research also uses calculated recommendations from covering Wall Street analysts. These recommendations are on a scale provided by Zacks Research. Based on information provided from various analysts, Zacks Research shows shares of Bank of America Corporation (NYSE:BAC) having an ABR of 1.89. This number is based on a ratings scale where the ratings fall between a 1 and a 5. Following this scale, a 1 would represent a Strong Buy while a 5 would indicate a Strong Sell.

We can also take a look at some company earnings per share or EPS information. Earnings per share is the segment of profit for a company that is allocated to every outstanding share of a company’s common stock. Earnings per share numbers can serve as an indicator for the profitability of a certain company. EPS is widely considered to be one of the most important factors when evaluating the price of a share. A Zacks consensus currently shows Street analysts projecting Bank of America Corporation (NYSE:BAC) to post per share earnings of $0.38. For the period ending 2016-09-30, Bank of America Corporation reported actual EPS of $0.41. This number was $0.07 away from analyst predictions, providing a surprise factor of 20.59%. The company is expected to next release earnings on or around 2017-01-13.

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