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MarketScreener Homepage  >  Equities  >  Nyse  >  Bank of America Corporation    BAC

BANK OF AMERICA CORPORATION

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Industrials Down On Trade-Deal Doubts -- Industrials Roundup

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12/03/2019 | 05:04pm EST

Shares of industrial and transportation companies fell as comments from President Donald Trump suggested a trade war with China could drag out past the 2020 election.

Mr. Trump said he had "no deadline" to conclude a trade deal with China, and raised the prospect of waiting until after the 2020 presidential election. Since a Washington DC meeting between the trade delegations in October, investors have awaited confirmation of a "phase one" deal.

There are also doubts over whether another round of tariffs will take effect on billions of dollars of Chinese imports on Dec. 15. Most Wall Street strategists anticipate some kind of a formal truce in the trade war in the coming weeks.

"An interim, skinny U.S.-China trade deal should temporarily relieve trade concerns ahead of the U.S. presidential election and pave the way for a midyear, mini-boost in global growth led by U.S. rates and a weaker dollar," said strategists at brokerage Bank of America Merrill Lynch Global Research, in a recent 2020 outlook.

Mr. Trump also stoked a tariff spat with France, threatening to impose tariffs on some of the nation's luxury exports, during a visit to Europe for a North Atlantic Treaty Organization meeting in London.

Write to Rob Curran at rob.curran@dowjones.com

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Financials (USD)
Sales 2020 92 151 M
EBIT 2020 38 672 M
Net income 2020 25 773 M
Debt 2020 -
Yield 2020 2,37%
P/E ratio 2020 11,1x
P/E ratio 2021 10,2x
Capi. / Sales2020 3,22x
Capi. / Sales2021 3,15x
Capitalization 296 B
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Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 36,93  $
Last Close Price 33,54  $
Spread / Highest target 43,1%
Spread / Average Target 10,1%
Spread / Lowest Target -16,5%
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Managers
NameTitle
Brian T. Moynihan Chairman, President & Chief Executive Officer
Catherine P. Bessant Co-COO & Chief Technology Officer
Thomas Kell Montag Co-Chief Operating Officer
Paul M. Donofrio Chief Financial Officer
Thomas J. May Independent Director
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