‘Jump on the Bandwagon,' Says Bank of America About These 2 Stock Picks [Yahoo! Finance]
Bank of America Corporation (BAC)
Last bank of america corporation earnings: 4/15 06:45 am
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Source: Yahoo! Finance
This group of mega-cap companies collectively experienced a 48% year-over-year earnings increase in the recent first-quarter 2024 releases, in contrast to a 2% collective decline across the other S&P companies. Going forward, however, expectations are that the remaining 493 companies on the S&P will close that gap, and Bank of America strategist Ritesh Samadhiya sets out a case for the Mag 7 stocks to realize a 15% earnings share gain in Q4 while the rest of the index increases its share to 14%. That forecast implies a hefty broadening of the base, opening more opportunities for investors. The combination of a broader base and the current improved investor sentiment has Samadhiya's team feeling bullish – and their colleagues among the Bank of America stock analysts are running with it, telling investors that it's time to take advantage of the potential for wider gains and to jump on the bandwagon for two stocks in particular. A look into the TipRanks data shows that these 2 stoc
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