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Benzinga
Benzinga
Business
Vaishali Prayag

Bank of America Falls After HSBC Downgrade, Citing Overvaluation And Economic Risks

Bank of America HSBC BAC Saul Martinez
Bank

Bank of America Inc. (NYSE:BAC) shares are trading lower Tuesday after HSBC downgraded the stock from Buy to Hold.

What To Know: The downgrade comes despite HSBC raising its price target on Bank of America from $47 to $51, signaling that while there may still be upside, the stock's recent rally may have already priced in most of the near-term positives.

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