Hedgie David Tepper Thinks BofA Goes to $27 (BAC)
Dow Jones is reporting that hedge fund manager David Tepper has a price target of $27 on Bank of America (NYSE: BAC); he was speaking at the 15th annual Ira Sohn Conference today.
The unusual conference, at which 12 hedge fund managers present their favorite investment ideas in concise 15-minute presentations, was founded 15 years ago in honor of Ira Sohn, a Wall Street analyst who died of cancer at the age of 29.
David Tepper is the founder of Appaloosa Management.
In 2007, Appaloosa Management was ranked in the 100 Hedge funds to watch, the Financial Times ranking.
Bank of America was lower in the after-hours trade at $15.42.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.