Evercore ISI raised the firm’s price target on Bank of America (BAC) to $57 from $55 and keeps an Outperform rating on the shares following an “impressive” Q3 report, driven by solid revenue growth and positive operating leverage. Management’s “upbeat guidance” for Q4, including a modest increase in net interest income, has “bolstered investor confidence,” the analyst contends.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BAC:
- Bank of America price target raised to $55 from $50 at Piper Sandler
- Bank of America price target raised to $62 from $58 at Citi
- Wall Street Hunts for Consumer Clarity as Data Gets Delayed. Here’s What Banks Are Seeing.
- Bank of America price target raised to $59 from $54 at Barclays
- Investors on Edge after Bank of America (BAC) Dragged into Epstein Scandal