Bank of America Names 5 Bullish Stocks as Market Concerns Mount

16/11 03:07

Bank of America named five stocks it views as bullish amid market concerns. The picks are Madison Square Garden Entertainment (MSGE), U.S. Bancorp (USB), AT&T (T), L3Harris (LHX) and Krispy Kreme (DNUT), according to BeInCrypto. Three have fallen this year, while the broader U.S. market has gained more than 10%; only two have outperformed the S&P 500. The search for safer investments intensified on November 5, when an AI-led market crash erased roughly $2 trillion from U.S. stocks in the first hour, amid fears that the newly Democratic-controlled Congress could slow AI data center development. MSGE has jumped nearly 48% this year, supported by major concerts including Harry Styles performances, and Bank of America expects its Christmas Spectacular, additional shows and stronger advance ticket sales to provide further support. U.S. Bancorp has risen nearly 18%, with potential earnings growth tied to repricing older assets and expanding fee income, though its turnaround depends on the broader economy holding up. AT&T is down more than 6%, despite being Bank of America’s top U.S. telecom pick; analysts cite improving cash flow, its dividend and a $34 price target. L3Harris has fallen about 7%; Bank of America likes its new CEO’s focus on execution and overseas sales, but the company faces scrutiny over a possible role in Friday’s nationwide U.S. flight stoppage. Krispy Kreme is down roughly 2.5% despite a recent rebound. Analyst Sara Senatore called the company’s decision to maintain earnings guidance despite rising costs “the clearest evidence yet that the turnaround savings are durable.”

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Bank of America Names 5 Bullish Stocks as Market Concerns Mount

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