Finance

Value stocks have ‘never been this cheap,’ Bank of America says

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Traders work on the floor at the New York Stock Exchange.

Brendan McDermid | Reuters

Value stocks, those with stable fundamentals and subpar valuations, haven’t been this cheap since the financial crisis, according to Bank of America.

Cheap equities enjoyed a resurgence in September from a decade of underperformance as investors bet on economically sensitive, underpriced stocks on hopes for a U.S.-China trade deal. Value names have become particularly cheap relative to momentum stocks, creating a buying opportunity, the bank said.

“Value has never been this cheap vs. Momentum,” Savita Subramanian, head of U.S. equity and quantitative strategy at Bank of America Merrill Lynch, said in a note…



Source cnbc.com

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