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Bank Of America: Stick With This Bank In 2020
January 3, 2020
- Bank of America's stock outperformed the broader market by a wide margin in 2019.
- The investment community is concerned about how the interest rate environment will negatively impact the banks in 2020 but, in my opinion, the concern is overblown.
- I plan to stay overweight Bank of America through at least 2020.
Bank of America's ($BAC) stock performed well in 2019, as BAC shares finished the year higher by over 40%. In addition, BofA's stock outperformed the broader market by over 14 percentage points.
The stock performance over the last year was impressive but, in my opinion, BAC shares still have a lot of room to run. To this point, I believe that investors should consider staying the course with BofA because I believe that the risk is currently to the upside, if you are willing (and able) to look out 3-5 years.