Analyst Vivek Juneja from J.P. Morgan maintained a Buy rating on Bank of America and keeping the price target at $48.00.
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Vivek Juneja has given his Buy rating due to a combination of factors that highlight Bank of America’s potential for growth and stability. The bank’s net interest income is on a recovery path, with expectations of acceleration in the latter half of the year due to the maturation of low-rate swaps. Furthermore, the trading sector remains a strong growth area, contributing to the bank’s overall financial health. Despite a slight increase in expenses, the bank’s earnings have surpassed expectations, showcasing resilience in its financial performance.
Additionally, Bank of America’s solid credit quality and increased share buybacks are positive indicators of its financial strength. The bank’s guidance for fiscal year 2025 suggests continued growth in net interest income and loans, alongside stable expenses. These factors, coupled with a strong retail franchise and relatively lower credit risk, underpin the Buy rating, reflecting confidence in the bank’s ability to deliver shareholder value over the long term.
In another report released today, Barclays also maintained a Buy rating on the stock with a $54.00 price target.