Bank of America price target raised to $64 from $58 at Goldman Sachs

Goldman Sachs analyst Richard Ramsden raised the firm’s price target on Bank of America (BAC) to $64 from $58 and keeps a Buy rating on the shares. Bank of America’s net interest income is expected to grow about 7% year over year through 2026, outpacing large-bank peers and consensus, driven by favorable deposit pricing, stronger loan and deposit growth, and accretive asset repricing, the analyst tells investors in a research note. Continued expense discipline should support multi-year operating leverage, with additional upside potential to capital returns from prospective regulatory capital reform, Goldman adds.