Bank of America Corporation
Bank of America Corporation (NYSE: BAC) has a consensus target is $18.36, implying a 66 percent upside from its $11.04 price. The target price is also under the near-term highs as a 52-week range is $10.91 to $19.86. Before you get excited about it being about 1% from lows, there are some serious issues to consider. While BofA has denied that it is ‘the big bank targeted by WikiLeaks,’ there is no way to know whether that is true. BofA is also Public Enemy #1 when it comes to the mess in the mortgage market. That situation may take years to solve and its outcome could be devastating for BofA shareholders. If and when banks get to resume dividend hikes, BofA is likely to be one of the last to be able to do so. Investors should consider that upside price target something that will come down through time as the world sits in December 2010.
(AP Photo/Paul Sakuma)