Analyst views Bank of America stock as a 'good buy'
An article in Seeking Alpha says Bank of America (BAC) has moved along at a steady pace this year, but started to wane in recent weeks. However, when looking ahead, one analyst says it's now time to buy BAC. Seeking Alpha explains why:
I see major opportunity ahead for Bank of America shareholders as the efforts by management to turn this behemoth around gain traction. With the yield curve steepening and Bank of America cutting costs, I posit the bank will become much more profitable. As increasing profits begin to pad the bottom line, the bank will be allowed to increase distributions to shareholders. This development could attract an entirely new cadre of investors driving the stock even higher. If you choose to start a position in the stock at this time, I suggest layering in a quarter at a time to reduce risk.