The Ratings Game: Bank of America to see ‘better days ahead’ with Donald Trump

Shares of Bank of America Corp. rallied to a record close in active trade Thursday, after Raymond James turned bullish on the banking giant on the belief it would see “better days ahead” with Donald Trump in the White House.

Analyst David Long at Raymond James upgraded Bank of America BAC, +2.16% to outperform, after being at market perform since early July. He set a stock price target of $26, which is about 12% above current levels.

“Simply put, we view Bank of America as a general proxy for the health of the economy, and, with expected changes brought by the incoming presidential administration under Trump, we see better days ahead,” Long wrote in a note to clients.

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