3 Cheap Stocks Bank of America Analysts Say Are ‘Buys’
Written by
Nicholas Morine
Edited by
Jenna Klaverweiden
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
Bank of America analysts are often consulted for their acumen in providing stock ratings, which some investors look to in order to pick up some expert tips, and those interested in investing in less expensive (but still lucrative) stocks could do well by paying closer attention to what those analysts are saying.
Here are three cheap stocks that have “Buy” ratings from Bank of America analysts.
Also see what to invest in during a recession.
Credo Technology Group (CRDO)
According to a recent TipRanks report outlining Bank of America analyst stock picks, Credo Technology Group could be one to add to your portfolio.
Citing a keen interest in the stock coming from Bank of America’s Vivek Arya, an analyst with a proven track record for successful investments, TipRanks also noted that the stock had a consensus “Buy” rating, with nine analysts rating it a “Buy” and one rating it a “Hold.”
As for Arya, he set a price target of $75, which would present a 52.5% upside from the March 25 closing price of $49.18.
Skechers (SKX)
Skechers has been making headlines as of late for its aggressive moves into the performance footwear and fashion segment. The brand recently opened its flagship performance store in the iconic West Edmonton Mall in western Canada.
Despite a recent lowering of its target price coming from Bank of America analyst Christopher Nardone — from $76 to $70 on March 24 — that’s still a tidy profit to be made from the March 25 closing price of $57.35. Nardone maintained his “Buy” rating, per MarketBeat.
Hewlett Packard Enterprise (HPE)
Hewlett Packard Enterprise may bear the hallmarks of a legacy brand, and enterprise solutions remain a vibrant market as a whole, but what’s noteworthy is that Bank of America analyst Wamsi Mohan saw potential upside for this stock, setting a price target of $20 as of March 7.
While that’s significantly adjusted from a previous price target of $26, the stock rested at $16.52 as of the close on March 25, leaving profits on the table — and Mohan maintained a “Buy” rating regardless of the price target downgrade.
More From GOBankingRates
