Banking and financial services giant Bank of America Corporation (NYSE: BAC) recently revealed that the company has partnered with food delivery platform, Grubhub. As part of the collaboration, eligible Bank of America cardholders will receive a complimentary one-year subscription to Grubhub+.
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Eligibility and Features of the Partnership
To be eligible for this program, one has to be either a Bank of America debit, credit, or small business cardholder who is not already a Grubhub+ member. Members of Grubhub+ will get unlimited $0 delivery fees on orders of $12 or more and exclusive perks from restaurants on Grubhub.
Investors Are Bullish on BAC Stock
Bank of America sports a Smart Score of 8 out of 10, indicating that the stock is poised to outperform market expectations. Consequently, top investors are loading up on the company’s stock as they are optimistic about its prospects.
TipRanks’ Stock Investors tool shows that top investors currently have a Very Positive stance on BAC. Further, 11.4% of the top portfolios tracked by TipRanks, increased their exposure to BAC stock over the past 30 days.
Is Bank of America a Good Stock to Buy?
Overall, the Wall Street community is cautiously optimistic about the stock with a Moderate Buy consensus rating based on 11 Buys and five Holds. The average BAC price target of $42.40 implies the stock has an upside potential of 16.9% from current levels. Shares have declined 9.7% over the past year.
Final Thoughts
Third-party partnerships have been gaining momentum among corporations recently. This is because it helps acquire customers without a hefty marketing cost. To that end, Bank of America’s partnership with Grubhub is expected to be mutually beneficial for both companies. While Bank of America customers will get access to Grubhub+’s top restaurant listings and can order food without a delivery fee, Grubhub will benefit from Bank of America’s large network of 67 million clients.
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