Bank of America (BAC) Jumps 8% On Goldman's Table-Pounding 'BUY'
Bank of America (NYSE: BAC) is 8% higher in pre-open trading following upbeat comments on the bank from analysts Goldman Sachs. Goldman added BofA to its Conviction Buy List and raised its price target from $7 to $15.
Goldman cited the ongoing capital raise and a solid quarter for the company's mortgage and capital markets businesses.
Shares of BAC closed at $10.67 on Friday, providing 40% upside to Goldman's new price target.
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