Market Overview

Bank Of America Recipient Of Rare Triple Upgrade

Share:
Related BAC
Short Sellers Piling Into Big Bank Stocks Ahead Of Q3 Earnings
AMD, Bank Of America, Gilead, Intel: Fast Money Picks For September 19

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

Bank of America Corp (NYSE: BAC) shares are trading higher by $0.80 at $16.09. The company was the recipient of a rare triple upgrade before today's open. If one includes Monday's upgrade by KBW, who raised its rating from Market Perform to Outperform with a $20 price target, that would be four over the last two days.

Both Bernstein and Baird went to an Outperform rating from a Neutral rating and Bernstein maintained its $20 price target. Also, Macquarie went from Underperform to Neutral.

The trio of upgrades instigated a sharply higher open ($16.20 vs. Monday's close of $15.29), but could only rally another penny before declining to $15.86.

Keep in mind, Bank of America swooned to $14.60 off Monday's open, so at $16.21, it represents an 11 percent gain in 24 hours.

Posted-In: Premarket outlookTechnicals Intraday Update Movers Trading Ideas

 

Related Articles (BAC)

View Comments and Join the Discussion!
Loading...
Loading...