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UBS upgrades Bank of America to Buy and boosts price target

UBS analysts upgrade Bank of America (BAC) to Buy from Neutral and lift their price target to $53 from $43. The analysts called Bank of America "an underrated beneficiary of deregulation" with many on Wall Street expecting further banking deregulation to come under President-elect Donald Trump's return to the White House. Julie Hyman and Josh Schafer take a closer look at the analyst note and what it means for investors. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. This post was written by Naomi Buchanan.