Citi is out with its report today on Bank of America BAC, reiterating Buy.
In its report, Citi writes, "We rate the shares of Bank of America Buy/High Risk (1H). We believe BAC represents the best value in the group trading at a discount to the group on normalized earnings. BAC is highly levered to an improved economy, which we believe will take a while to materialize. However, we believe the valuation
discrepancy is too wide, and continues to offer investors the best way to invest in the banking sector."
Citi maintains its $14 PT on BAC.
At the time of posting, shares of BAC were trading pre-market at $7.82, down 4.28% from Friday's close.
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