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.

Real-Time Market Moving News Two-Weeks FREE http://www.streetinsider.com/premium_content.php

You May Also Be Interested In

• SEC accuses ex-BofA senior banker Satsky of insider trading - Bloomberg
• BofA truck shipper survey shows demand outlook rises modestly
• Weibo Corp (WB) PT Lowered to $6.50 at BofA Securities