Bank of America price target raised to $54 from $50 at Citi

Citi analyst Keith Horowitz raised the firm’s price target on Bank of America (BAC) to $54 from $50 and keeps a Buy rating on the shares. The firm says the “bar seems reasonably set” for Bank of America heading into the Q2 earnings report. Bank of America “is one of the more consensus-long names but increasing short-momentum over last three months,” the analyst tells investors in a research note. Citi believes the bank’s Q2 net interest income will be strong relative to guidance and does not expect change to the Q4 guide.