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Bank of America Corporation (NYSE:BAC) realizes risk of $30 oil if china revalues Yuan

By on June 26, 2019 0

A further deterioration in relations between the U.S. and China could set off a chain of events that would push oil down more than 50% to as low $30 a barrel, according to Bank of America Corporation (NYSE:BAC) Merrill Lynch. President Donald Trump may decide to raise tariffs on the remaining $300 billion of Chinese imports if he doesn’t like what he hears from Chinese President Xi Jinping at this weekend’s G-20 summit in Osaka, Francisco Blanch, the bank’s global head of commodities, said in an interview in Singapore.

Bank of America Corporation (NYSE:BAC) shares shed -0.79% to finally closed at $27.76 in last active session. 

BAC’s distance from 20 day simple moving average is -0.29% and distance from 50-Day simple moving average is -3.83%.

Analyst’s mean target price for BAC is $33.50 while analysts mean recommendation is 2.20. Stock value has moved between $22.57 – 31.91 in last one year. Stock has got OUTPERFORM rating from 10 of Thomson Reuters analysts, 12 given HOLD rating to the stock and 0 given UNDERPERFORM rating. Analyst’s mean target price for BAC is $33.50 while analysts mean recommendation is 2.20. 

Bank of America Corporation (NYSE:BAC) yearly performance is -4.24% and net profit margin is 39.00%. Annual EPS Growth of past 5 years is 23.60%. The current share price indicates that stock is -13.01% away from its one year high and is moving 22.51% ahead of its 52-week low. 



On 25 June 2018, United States Steel Corporation (NYSE:X) shares gained 3.32% and ultimately finalized to $14.93 in last traded day. Stock has got OUTPERFORM rating from 2 of Thomson Reuters analysts, 7 given HOLD rating to the stock and 3 given UNDERPERFORM rating. Analyst’s mean target price for X is $17.38 while analysts mean recommendation is 3.00. 



At the movement Tabula Rasa HealthCare, Inc. (NASDAQ:TRHC) is under coverage by number of analysts. Buy rating has been given by 5 analysts to the company stock whereas 0 given UNDERPERFORM rating to stock and 3 given HOLD rating. The consensus recommendation by Thomson Reuters analysts is 0.06 and their mean rating for the stock is 1.82con scale of 1-5. Analysts mean target price for Tabula Rasa HealthCare, Inc. (NASDAQ:TRHC) is $81.09 while their mean recommendation is 1.80 (1=Buy, 5=sell). 

If we look at stock performance in last active day trading, we see that stock has moved shed -2.68% to end the day at $49.31. The current share price indicate that stock is -45.91% away from its one year high and is moving 20.68% ahead of its 52-week low. 

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