Bank Of America: Dull, But In The Right Sector
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Introduction
Banks have been performing well, Bank of America (NYSE:BAC) included, owing to the rotation back to value, a search for safe-haven conventional investments, and the ongoing story of margin expansion on rising bond yields. However, the neutral call on BAC reflects its prolonged trend of positive performance, suggesting that the good news has been pretty much priced into its valuation. Furthermore, the company’s price-multiple ratios…
