Company Update (NYSE:BAC): Bank of America Corp Merrill Lynch Wins Hat-Trick of Accolades From EMEA Finance


Bank of America Corp Merrill Lynch (NYSE:BAC) has been recognised by EMEA Finance magazine, a leading industry trade outlet, in its 2015 Treasury Services Awards, winning three accolades for treasury and FX services across the region:

  • Best Treasury Services in EMEA
  • Best FX Services in Europe
  • Best FX Services in EMEA

This is the second consecutive year BofAML has won the treasury services award, and the third and fourth years respectively for the FX services in Europe and EMEA accolades.

Writing about BofAML’s wins, Christopher Moore, publisher of EMEA Finance said, “The bank’s commitment and capabilities in these areas are hugely impressive. As in previous years, we recognised their client-centric FX and Global Transaction Services offerings, holistic solutions and focus on thought leadership.”

Jennifer Boussuge, head of Global Transaction Services, EMEA at BofAML said, “We are delighted to once again be recognised by this respected industry outlet for the products, services and advice we offer our clients. Particularly notable is that EMEA Finance has recognised our ‘one voice’ approach across GTS and FX to deliver a seamless client offering. We look forward to continuing our successful approach for our clients around the world, helping them navigate an increasingly complex treasury landscape”.

Mike Robertson, global head of Transactional FX Trading at BofAML, added, “With a presence in all major foreign exchange hubs and emerging markets, BofAML provides our European client base with holistic global solutions and local expertise. Our team of highly experienced FX traders and sales force collaborate seamlessly to ensure our clients are getting the solutions they need through changeable market conditions.”

Hilani Kerr, head of Global Cross Currency Product at BofAML, said, “We are very honoured by the recognition of our FX capabilities. It’s particularly rewarding at a time when our clients are increasingly doing business in overseas markets, principally driven by the maturing e-commerce marketplace that has enabled a rapid expansion of a global customer and supplier base.”

The EMEA Finance Treasury Services Awards have been running for six years and recognise banks for ingenuity, innovation and investments in cash management, FX and other treasury services. (Original Source)

Shares of Bank of America closed yesterday at $15.52. BAC has a 1-year high of $18.48 and a 1-year low of $14.60. The stock’s 50-day moving average is $15.78 and its 200-day moving average is $16.51.

On the ratings front, Bank of America has been the subject of a number of recent research reports. In a report released yesterday, J.P. Morgan analyst Vivek Juneja assigned a Buy rating on BAC, with a price target of $17.50, which represents a potential upside of 12.8% from where the stock is currently trading. Separately, on the same day, Sandler O’Neill’s Jeff Harte assigned a Hold rating to the stock and has a price target of $17.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Vivek Juneja and Jeff Harte have a total average return of 16.2% and 6.3% respectively. Juneja has a success rate of 63.3% and is ranked #489 out of 3775 analysts, while Harte has a success rate of 57.9% and is ranked #1351.

The street is mostly Bullish on BAC stock. Out of 18 analysts who cover the stock, 14 suggest a Buy rating , 3 suggest a Hold and one recommends to Sell the stock. The 12-month average price target assigned to the stock is $19.25, which implies an upside of 24.0% from current levels.

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