Bank of America (BAC) is the stock to own in 2013, says Meredith Whitney, calling it one of the...


Bank of America (BAC) is the stock to own in 2013, says Meredith Whitney, calling it one of the most undervalued firms going into the stress tests. It's got value, catalysts, and momentum, she says, a very rare triple threat for a big bank. $15/share is a chip shot and the stock's a double over the next 18 months, she tells CNBC. Shares +0.8% AH.
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Comments (8)
  • FXTrading101
    , contributor
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    Forget 15. If the situation in Europe doesn't get out of hand, BAC will probably hit close to 20 by the end of the year. 15 by the summer is more likely.
    18 Mar 2013, 05:24 PM Reply Like
  • benitus
    , contributor
    Comments (3472) | Send Message
     
    Any target can be achieved if the shorts are not dead-set on weighing down this stock. How much BAC will increase depends on how many shorts bail and reverse their positions. Right now, there's still quite a bit of negative sentiment, so the shorts are still very active and they stand the chance of losing big-time if BAC gathers enough support among the institutional traders.
    18 Mar 2013, 07:27 PM Reply Like
  • herschfields
    , contributor
    Comments (132) | Send Message
     
    Even the "thought" of being short with BAC is scary. Would like a few comments of the B Warrants from anyone with insight in such a position.
    19 Mar 2013, 01:35 PM Reply Like
  • Poor Texan
    , contributor
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    What's the scoop on municipals?
    18 Mar 2013, 09:21 PM Reply Like
  • Ty, T
    , contributor
    Comments (18) | Send Message
     
    BAC looks weak relatively to other banks in the group. Meredith try to talk it up for her own . She is probably buy shares for her clients, they didn't get a good return! so here she come to the rescue.
    19 Mar 2013, 06:30 AM Reply Like
  • gwynfryn
    , contributor
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    T, I had similar thoughts...
    19 Mar 2013, 11:06 AM Reply Like
  • wineguy42
    , contributor
    Comments (37) | Send Message
     
    Meredith Whitney is a typical analyst. At $6.00 don't buy, but at $12, buy. Don't get me started.
    19 Mar 2013, 12:40 PM Reply Like
  • benitus
    , contributor
    Comments (3472) | Send Message
     
    wineguy42, I agree with your observation that "typical analysts" like Meredith seem to contradict themselves because what they say is their own opinion and not fact, which depends on how they look at a given situation, so anyone can have an entirely different opinion if they look at the same situation differently. Hence, I can understand why she said "don't buy" at $6 because she thinks it might go even lower, which it did, whereas some others may think it has gone down far enough. But when she said "buy" at $12, she can see, like the rest of us, the potential for BAC to go higher in time. I always remind others never to accept blindly what "typical analysts" recommend but to sieve through the facts and see whether they concur with our own opinion, before doing anything.
    19 Mar 2013, 03:04 PM Reply Like
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