Bank of America (BAC) Gets a Buy from Wells Fargo

Wells Fargo analyst Mike Mayo maintained a Buy rating on Bank of America (BAC – Research Report) today and set a price target of $56.00. The company’s shares closed yesterday at $44.65.

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According to TipRanks, Mayo is a 5-star analyst with an average return of 13.0% and a 65.62% success rate. Mayo covers the Financial sector, focusing on stocks such as Fifth Third Bancorp, JPMorgan Chase, and Bank of America.

Currently, the analyst consensus on Bank of America is a Strong Buy with an average price target of $49.26, implying a 10.32% upside from current levels. In a report released on May 23, DBS also maintained a Buy rating on the stock with a $48.00 price target.

The company has a one-year high of $48.08 and a one-year low of $33.07. Currently, Bank of America has an average volume of 48.46M.