July 27, 2012 15 Comments

Bank of America is updated and rated Speculative Strong Buy at $7.17. ( As I post this it is up to $7.31 today) As mentioned in the report, this is a very large and complex company and our analysis is relatively superficial. I don’t claim any special ability to forecast bank earnings or analyst there many risks. However, on the face of it, this company is recovering and appears to offer compelling value. It has been volatile and will likely continue to be volatile. There are no guarantees but this is a company that could double in price within a year if things go well. On the other hand financial troubles in Europe could certainly send this and other bank stocks down at least temporarily. As disclosed below I added to my own holdings in this company earlier this week.