Going Long on Bank of America (BAC)

Once again its time to give Bank of America Corp. (NYSE:BAC) another look as it shares are just 9% away from its 12 month low.

Yet another analyst is screaming buy on this stock, BofA trades at just 1.1 times tangible book value.  The average target price from all the analysts covering Bank of America works out to $20.09, that implies a 49% return in one year from today's $13.41 price.

The scoop from stockbriefings.com -- Bank of America Inc. (NYSE:BAC) is a steal, said Phil Van Doorn of The Street.

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Bank of America Inc. Could Be Good Value

If you look closely you’ll notice that four of the US’s largest holding companies, among them Bank of America (NYSE:BAC), are trading at record-low prices in terms of forward P/E ratio.

Phil Van Doorn of The Street says, Bank of America stands out because it trades at just 1.1 times tangible book value.

He goes on to say that “A play on Bank ... Keep Reading At Stockbriefings.com>>
 

SOURCE: http://www.stockbriefings.com/bank-of-america-inc-nysebac-could-be-good-value/3172644