Bank of America Reveals Best Buy Stocks on US Election Year

Bank of America Reveals Best Buy Stocks on US Election Year

The US presidential election is one of the most important events impending in the near future. It will take place in November 2020. So far, two candidates are in the lead – Bernie Sanders (40%) and Joe Biden (36%), but there is also 50/50 chance that Donald Trump will win again – PredictIt states. While there is no way to be absolutely sure who will become the new president, some stocks are in the position to gain anyway.

Which are the five stocks that will gain most, according to the bank of America?

First in the list is Facebook Inc. It decided to allow political ads in 2020. And the fact is, Facebook also played a significant role in the 2016 presidential election. Analyst Justin Post thinks that the 2020 election could be a bullish catalyst for this stock. Bank of America set its target price at $260 per share.

Fox Corp is Trump’s favorite platform to address the nation. It was also a top-rated cable news network in 2019, and most assuredly, the majority of Americans will follow it again during the elections.  Fox stock’s price target is $48.

Twitter Inc. announced that it would ban political advertising in 2020, but discussions on the platform will boost it, nonetheless. Like Fox News, Twitter is Trump’s choice for reaching out to the audience. Stock’s target price is $39 so far.

Alphabet Inc. driverless vehicle subsidiary Waymo was valued at $57 billion. Additionally, this tech company will allow advertising for elections. Bank of America rated its price at $1,620.

Intuit Inc. assists with tax and accounting software. After the elections, the winner party may replace Trump’s corporate tax cuts. And even if this doesn’t prove right, any changes to the tax system means that such corporations like Intuit will gain new clients.  This stock’s price target is $303.