5 Best Low Cost Stocks to Buy According to Hedge Funds

​3. Bank of America Corporation (NYSE:BAC)

Forward P/E Ratio: 11.55

Number of Hedge Fund Holders: 106

Bank of America Corporation (NYSE:BAC) is one of the Best Low Cost Stocks to Buy According to Hedge Funds. Wall Street is bullish on Bank of America Corporation (NYSE:BAC) as 84% of the 25 analysts covering the stock maintain a Buy rating. The average 12-month analyst price target reflects more than 20% upside from the current level.

​Recently, on May 28, Wells Fargo reiterated a Buy rating on the stock with a price target of $65. Earlier, on May 27, Truist Financial had also reiterated a Buy rating on the stock without disclosing any price targets.

​That said, on May 27, Reuters reported that the CEO of Bank of America Corporation (NYSE:BAC), Brian Moynihan, projects a 15% year-over-year increase in trading revenue in the second quarter, driven by easier comparison as the market was rattled by the tariff volatility a year ago. In addition, the CEO also finds investment banking to be in good shape and expects wealth management revenue to grow in the low double digits.

​Moynihan also noted that the IPO pipeline is healthy, with Wall Street looking forward to SpaceX’s anticipated debut as a potential catalyst for more listings, particularly among AI-focused companies.

​Bank of America Corporation (NYSE:BAC) provides financial products and services to individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide.

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