BB&T Upgraded by Bank of America/Merrill Lynch (BBT)

Bank 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 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.

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