Is Bank of America Stock a Buy in November?
If you're in the market for a bank stock to buy in November, you could do a lot worse than Bank of America (NYSE: BAC). While the nation's second biggest bank by assets has seen its stock price soar over the past year, the still-modest valuation of its shares makes them an attractive proposition at their current price.
Bank of America's shares trade right now for 15.8 times its expected earnings over the next 12 months. One way to interpret this is that it costs $15.80 to buy every $1 of the Charlotte, North Carolina-based bank's forward earnings. That's by no means cheap, a moniker typically associated with a single-digit valuation multiple, but it's also not expensive.
Source: Fool.com
Bank of America Corp. Stock
The stock is one of the favorites of our community with 21 Buy predictions and 2 Sell predictions.
As a result the target price of 42 € shows a slightly positive potential of 18.51% compared to the current price of 35.44 € for Bank of America Corp..