No, but 20's quite possible. Here's an issue. BAC is going to take the one time charge for this( govt. extortion) in the 3rd quarter. We calculate that at about .53 per share. Earnings per share are being estimated at about .90. If, repeat IF BAC beats again we will be good for 22 .24 PPS.
No. Although price to book (.76) is very cheap when compared to WFC, their revenue growth, Price to sales, return on assets and return on equity are all poor. BAC will need to focus on cost cutting and revenue growth. Wall Street is trying to decide what this bank is worth now and how to justify a higher P/B. Any progress in revenues and or margins will send this stock soaring. But not until then.
I just wish I didn't selling at $13 when I bougth in the low $8s. :( I am trying ot decide if this is worth getting into again. I saw one article that said this stock has a 50% upside but I am unsure of the timeline.
$30 year end? No way. High teens if the market keeps up is my guess.