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Actionable news in BAC: BANK OF AMERICA CORPORATION,

Bank of America’s stock rally is far from over, analysts say

Bank of America’s stock could have a lot more room to run.

The postelection spike higher in Bank of America Corp.’s stock may still be less than half over, some analysts say, given the potential boost that President-elect Donald Trump’s policies could provide to the banking giant and others in the financial sector.

Shares of the moneycenter bank BAC, +1.56% eased 0.1% Tuesday, erasing earlier gains of as much as 1.2%, but was still within range of Friday’s eight-year closing high of $20.86. With volume of over nearly 114 million shares, the stock was the most actively traded on major U.S. exchanges.

The stock rose 0.6% in premarket trade Wednesday.

B. of A.’s shares have rocketed 19% since the election, as investors expect the Republican sweep of the White House and Congress will relieve the regulatory pressure the banking sector has faced since the financial crisis. That compares with an 11% run-up in the SPDR Financial Select Sector exchange-traded fund XLF, +1.40% and a 3% gain in the S&P 500 index SPX, -0.48% over the same time.

Don’t miss: Why the rally by U.S. stocks is ‘just getting started’ -- in one chart.

Analyst Steven Chubak at Instinet said...


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