Meredith Whitney Jumps Back on BofA to Grab the Bull by the Horns
Bank of America Corp. (NYSE: BAC) may have a more bold cheerleader in Dick Bove's call that BofA's common stock is still going back up to $30 in the next two or three years. In the near term, banking analyst Meredith Whitney is still cheering the bank's common stock onward and forward.
After closing at $12.56 today, Meredith Whitney appeared on CNBC calling for BofA's stock to continue rising to $15 in the near-term. Her price target was put as being "up to the $20 price range" over the next year and half or so. Whitney also said that she is currently more bullish than she has been versus any point in her career. She even thinks that the woes of Cyprus and Europe will help US banks out.
Here is CNBC's video of Meredith Whitney calling for BofA to go to $15 and higher.
Where or not you like Meredith Whitney or Dick Bove better (or at all for that matter) is up to you. Today's bird in the hand is a call for BofA's stock to rise to $15 and then to $20. Last week's message from Dick Bove was for BofA to ultimately rise back to $30.
We would make one note now that BofA's common stock touched a new 52-week high of $12.68 on Monday before closing down 1 cent at $12.56. The consensus analyst price target from Thomson Reuters is $12.24. The median target is only $12.50, and the highest one-year price target is $15.00.
Filed under: 24/7 Wall St. Wire, Analyst Calls, Banking & Finance Tagged: BAC, featured