Will This Catalyst Soon Cause Bank Stocks to Soar?
I spend most of my days studying banks and their stocks, but the thing I'm focused on right now has little to do with the fundamentals at the banks I follow most closely -- namely, Bank of America (NYSE: BAC), JPMorgan Chase (NYSE: JPM), and Wells Fargo (NYSE: WFC).
What I'm watching instead is the likelihood that corporate tax reform will make it through Congress. If it does, it seems fair to think that bank stocks will respond positively to the news, as it will mean that more of these banks' earnings will be passed on to shareholders as opposed to the government.
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Source: Fool.com
Bank of America Corp. Stock
€37.97
-1.210%
Our community is currently high on Bank of America Corp. with 27 Buy predictions and 5 Sell predictions.
As a result the target price of 42 € shows a slightly positive potential of 10.61% compared to the current price of 37.97 € for Bank of America Corp..
