Bank of Hawaii price target raised to $70 from $66 at BofA
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4 hours ago
- Yahoo
Bank of America says buy these 10 ultra-cheap stocks primed to rebound
Bank of America predicts that large-cap stock dominance of the stock market could soon end. If the US economy enters a recovery phase alongside rate cuts, beaten-down stocks could surge. BofA recently shared top stock picks with low valuations that could be primed for a rebound. Bank of America says large-cap dominance inoof the stock market may soon be over. The bank's economic regime indicator shows the US economy hovering between downturn and recovery phases. If it starts to enter the latter alongside Fed rate cuts and improving earnings, smaller and cheaper stocks in the S&P 500 should start to outperform the largest companies, the bank said in a recent client note. "Recoveries saw 2x PE expansion for the Not-So-Nifty 450 as the Nifty 50, and the Smallest 50 enjoyed 12ppt ann. alpha," said Savita Subramanian, the bank's head of US equity and quantitative strategy, said in the note. "History would suggest there is more to go in cap-weighted dominance. But if the Fed's next move is a rate cut, and if the Regime indicator is shifting to a Recovery, we think the run may be closer to done." As a way to invest in the potential trend, Subramanian and her team highlighted stocks with 12-month forward price-to-earnings ratios below the S&P 500's median; those with high beta, or volatility relative to the index; and those with market caps below the S&P 500's median. All of the stocks have a "Buy" rating from BofA. We've taken the 10 cheapest stocks from the list and compiled them in descending order according to their forward P/E ratios. Eastman Chemical Company Ticker: EMN Forward P/E: 9.3 Beta: 1.2 Market cap: $8.3 billion Sector: Materials Halliburton Company Ticker: HAL Forward P/E: 9.1 Beta: 1.1 Market cap: $19 billion Sector: Energy First Solar Ticker: FSLR Forward P/E: 9 Beta: 1.3 Market cap: $18.7 billion Sector: Information Technology Healthpeak Properties Ticker: DOC Forward P/E: 9 Beta: 1 Market cap: $11.7 billion Sector: Real Estate Aptiv Ticker: APTV Forward P/E: 8.9 Beta: 1.3 Market cap: $14.9 billion Sector: Consumer Discretionary Synchrony Financial Ticker: SYF Forward P/E: 8.4 Beta: 1.3 Market cap: $25.9 billion Sector: Financials Delta Air Lines Ticker: DAL Forward P/E: 8.4 Beta: 1.4 Market cap: $34.7 billion Sector: Industrials Host Hotels & Resorts Ticker: HST Forward P/E: 8.1 Beta: 1.2 Market cap: $21 billion Sector: Real Estate Devon Energy Ticker: DVN Forward P/E: 8.0 Beta: 1.1 Market cap: $21 billion Sector: Energy United Airlines Ticker: UAL Forward P/E: 7.7 Beta: 1.3 Market cap: $28.5 billion Sector: Industrials Read the original article on Business Insider Sign in to access your portfolio
Yahoo
4 hours ago
- Yahoo
Bank of America says buy these 10 ultra-cheap stocks primed to rebound
Bank of America predicts that large-cap stock dominance of the stock market could soon end. If the US economy enters a recovery phase alongside rate cuts, beaten-down stocks could surge. BofA recently shared top stock picks with low valuations that could be primed for a rebound. Bank of America says large-cap dominance inoof the stock market may soon be over. The bank's economic regime indicator shows the US economy hovering between downturn and recovery phases. If it starts to enter the latter alongside Fed rate cuts and improving earnings, smaller and cheaper stocks in the S&P 500 should start to outperform the largest companies, the bank said in a recent client note. "Recoveries saw 2x PE expansion for the Not-So-Nifty 450 as the Nifty 50, and the Smallest 50 enjoyed 12ppt ann. alpha," said Savita Subramanian, the bank's head of US equity and quantitative strategy, said in the note. "History would suggest there is more to go in cap-weighted dominance. But if the Fed's next move is a rate cut, and if the Regime indicator is shifting to a Recovery, we think the run may be closer to done." As a way to invest in the potential trend, Subramanian and her team highlighted stocks with 12-month forward price-to-earnings ratios below the S&P 500's median; those with high beta, or volatility relative to the index; and those with market caps below the S&P 500's median. All of the stocks have a "Buy" rating from BofA. We've taken the 10 cheapest stocks from the list and compiled them in descending order according to their forward P/E ratios. Eastman Chemical Company Ticker: EMN Forward P/E: 9.3 Beta: 1.2 Market cap: $8.3 billion Sector: Materials Halliburton Company Ticker: HAL Forward P/E: 9.1 Beta: 1.1 Market cap: $19 billion Sector: Energy First Solar Ticker: FSLR Forward P/E: 9 Beta: 1.3 Market cap: $18.7 billion Sector: Information Technology Healthpeak Properties Ticker: DOC Forward P/E: 9 Beta: 1 Market cap: $11.7 billion Sector: Real Estate Aptiv Ticker: APTV Forward P/E: 8.9 Beta: 1.3 Market cap: $14.9 billion Sector: Consumer Discretionary Synchrony Financial Ticker: SYF Forward P/E: 8.4 Beta: 1.3 Market cap: $25.9 billion Sector: Financials Delta Air Lines Ticker: DAL Forward P/E: 8.4 Beta: 1.4 Market cap: $34.7 billion Sector: Industrials Host Hotels & Resorts Ticker: HST Forward P/E: 8.1 Beta: 1.2 Market cap: $21 billion Sector: Real Estate Devon Energy Ticker: DVN Forward P/E: 8.0 Beta: 1.1 Market cap: $21 billion Sector: Energy United Airlines Ticker: UAL Forward P/E: 7.7 Beta: 1.3 Market cap: $28.5 billion Sector: Industrials Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 hours ago
- Yahoo
Avis Budget double-downgraded: 'Fundamentals don't support valuation'
-- Bank of America cut its rating for Avis Budget (NASDAQ:CAR) Group to Underperform from Buy in a note on Wednesday, warning that the company's fundamentals and industry backdrop do not justify its current share price. 'We think that CAR fundamentals and the macro environment don't support the current stock price, which significantly outperformed the market in June,' BofA analysts wrote in a note to clients. The firm lowered its price target to $113 for the stock, down from $120. BofA flagged 'pricing and demand pressures in the U.S. which negatively affects CAR's earnings power in 2H25/2026.' The analysts said a survey the bank conducted shows fewer consumers plan to increase travel spending in the next three months compared to 2024. 'This should translate into a soft pricing environment,' BofA wrote, adding that tariffs could further weaken demand in the second half. The bank acknowledged recent initiatives such as Avis First, aimed at the premium segment, and a fleet management partnership with Waymo. 'We see these developments as positives, and they speak to the fact that CAR is a strong operator. However, we don't expect these initiatives to have a significant effect on earnings in the near term,' the analysts said. Vehicle depreciation remains a swing factor. 'Although this is a potential tailwind, we believe that the effect may not be as large as thought,' BofA said, noting the current environment differs from the Covid period. The bank cut its 2025 and 2026 EBITDA estimates to $0.9 billion and $1.03 billion, respectively, and lowered its valuation multiple. 'We cut our PO to $113 from $120, valued on 7.5x EV/EBITDA 2026,' the analysts wrote Related articles Avis Budget double-downgraded: 'Fundamentals don't support valuation' If Powell goes, does Fed trust go with him? 7 Undervalued Stocks on the Rise With 50%+ Upside Potential
