Bank of America reports Monday (10/20)

Posted October 17th, 2008 by Ted Gottsegen
in

BOFA FEARBank of America (NYSE:BAC) reports on Monday and with all the recent activity, do you run, or do you hide?

The analyst upgrades have been flying in this past two weeks and the expecations are high:

 

 

 

 

 

 

 

 

13-Oct-08 Upgrade Stifel Nicolaus Hold → Buy $30
10-Oct-08 Upgrade Argus Hold → Buy $35
09-Oct-08 Upgrade Robert W. Baird Neutral → Outperform $32
08-Oct-08 Upgrade Keefe Bruyette Underperform → Mkt Perform $25

Another big piece of news came in this week, federal antitrust regulators cleared Bank of America's (BAC) $34.9 billion purchase of Merrill Lynch (MER).

Then of course there's the plan that the U.S. Government is going to save the Banking Industry.

If BofA is going to pull of an earnings call that gets the backing of the Street, then in the coming 12 months, you should have plenty of time to get in on the stock to enjoy a recovery.  However if you take the risk before Monday, you stand the chance of being a victim of Wall Street's erratic behavior.  Until I hear everything on the call, I'd rather wait in the wings then lose more money. 

Hang in there America.

 

BAC



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