Could Bank of America’s Stock Hit $30 Soon?
It's almost hard to believe that Bank of America's (NYSE: BAC) stock could be closing in on $30 a share, but it is. The reason it's hard to believe this is because, at this time last year, it was trading for well below $20 a share. But then the election hit, and hopes began to rise that the regulatory relief and tax reform promised by then-candidate Donald Trump on the campaign trail would cause profits at banks to soar.
Little has happened on either of these fronts yet, but if there's progress, it isn't unreasonable to think that Bank of America's stock could indeed eclipse $30 a share in the not-too-distant future.
Image source: Bank of America.
Source: Fool.com