Shaers of Bank of America Corporation (NYSE:BAC) have been recommended as a long term growth pick. With the firm’s stock price currently trading around $25.93, the firm has proven a solid track record of growth over the recent years. Investors might consider the stock as a long term growth candidate as the firm has yielded 182.40% earnings per share growth over the past 5 years and -5.10% revenue growth over that same time frame.
Long-term growth (LTG) is an investing strategy where a stock will (hopefully) grow in value for a relatively long period of time. Long-term growth should be considered to be a relative term, due to different styles and goals of investors, but the endgame is the same.
Let’s take a look at how the stock has been performing recently. Over the past twelve months, Bank of America Corporation (NYSE:BAC)’s stock was 17.33%. Over the last week of the month, it was 0.27%, 6.49% over the last quarter, and 13.13% for the past six months.
Over the past 50 days, Bank of America Corporation’s stock is -1.41% off of the high and 13.98% removed from the low. Their 52-Week High and Low are as follows: -1.41% (High), 66.22%, (Low).
Despite the past success, investors want to know where the stock is headed from here. Analysts covering the shares have a consensus short-term price target of $27.22 on the equity. Analysts have a consensus recommendation of 2.10 based on a 1 to 5 scale where 1 represents a Strong Buy and 5 a Strong Sell.