Truist raised the firm’s price target on Bank of America (BAC) to $53 from $51 and keeps a Buy rating on the shares as part of a broader research note previewing Q2 results for U.S. Banks. The recessionary fears that drove the steep sell-off ahead of last quarter’s results mostly played out in multiples, as did the subsequent rebound, the analyst tells investors in a research note. For the company, the firm sees net interest incomes moving higher, though its net interest margins are likely flattish from Q1.
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