Bank of America (BAC) — This is the second largest U.S.-based financial holding company with global assets of $2.1 trillion. Year-end reviews by Wall Street’s analysts resulted in upgrades. For 2014, earnings are estimated to be $1.32 per share, up from $0.90 in 2013, and $1.62 is expected in 2015.
I’ve been successfully recommending BAC for several years. Since late December, the stock has been consolidating following a run from $14.50 in November. Last week, BAC broke from a right triangle and flashed a buy signal from its MACD just as momentum turned positive.
The near-term target from the breakout is $22. Long-term investors could reap a much higher reward by holding this stock as a cornerstone investment.