BAC is planning to shed $500bln worth of assets which would lower its earning potential, resulting in a lower target price.
Nevertheless, BAC will continue to be the strongest bank after this recession. When its portfolio of bad loans recover, BAC will be a monster cash machine.
Will be looking to buy BAC at $13.70
Future TP is still $20. I think BAC will hit $18 by year end.
1 comment:
BAC at 13.80 has me nervous about it retreating back to 13.30
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