Bank of America Throws Its Weight Behind These 2 ‘Strong Buy' Stocks [Yahoo! Finance]
Bank of America Corporation (BAC)
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Source: Yahoo! Finance
But the month of May has started with gains in trading, and the earnings season for 1Q24 has turned out better than expected. In addition, the Federal Reserve has indicated that it will be keeping interest rates ‘higher for longer,' while inflation remains stubborn. A rate cut this year is still considered possible, but not likely until the fourth quarter of the year. Watching the situation unfold, Bank of America's head of U.S. equity and quantitative strategy, Savita Subramanian, sees reason for optimism. “I think we're going to a soft landing, with a reasonable market environment, maybe better growth ahead than what we're used to, higher rates, and a little bit higher inflation,” she said. Subramanian's outlook gives us a template for gains; she is sticking to her S&P target of 5,400 by year's end, or a gain of 5.5% from current levels. Embracing her bullish sentiment, Bank of America analysts are urging investors to seize opportunities, pinpointing two specific stocks. Aft
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