Credit: Shutterstock photoBank of America/Merrill Lynch has upgraded finance holding company, BB&T Corporation( BBT ) to a "Buy" on Monday.
The firm has upgraded BBT with a "Buy" rating, and has given the company a $32 price target. This price target suggests a 12.5% increase over the stock's current price of $28.
Analysts from the firm believe that BBT stock has become more attractive, resulting from a 15% pullback.
BB&T Corporation shares were up 41 cents, or 1.49% during premarket trading Monday.
The Bottom Line
Shares of BB&T ( BBT ) have a 2.90% dividend yield, based on Friday's closing stock price of $27.55. The stock has technical support in the $24-$26 price area. If the shares can firm up, we see overhead resistance around the $30 price level.
BB&T Corporation( BBT ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
