Analysts Are Downgrading These 5 Stocks

2. Bank of America Corporation (NYSE:BAC)

Number of Hedge Fund Holders: 97

Bank of America Corporation (NYSE:BAC) received a downgrade just ahead of its fourth-quarter earnings. Deutsche Bank slashed its ratings for the Charlotte-based banking giant from “Buy” to “Hold” on Friday, January 6.

The research firm predicted new lows for U.S. bank stocks. Deutsche Bank analyst Matt O’Connor expects downside risk in case of a recession. O’Connor lowered his price target for Bank of America Corporation (NYSE:BAC) from $45 per share to $36 per share.

Major U.S. banks, including Bank of America Corporation (NYSE:BAC), are set to report their earnings this week. Analysts expect lower fourth-quarter profit primarily amid an economic downturn.

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