- Bank of America (BAC, Financial) beats Q1 earnings estimates with robust financial performance.
- Analysts project a potential upside of over 31% based on average target prices.
- GuruFocus estimates suggest a promising upside of 18.3% for BAC's stock value.
Bank of America (BAC) has released its first-quarter earnings report, showcasing a commendable performance by surpassing analysts' expectations. The bank posted a GAAP earnings per share (EPS) of $0.90, exceeding projections by $0.08. Its revenue surmounted to $27.37 billion, marking a 6% year-over-year increase and surpassing forecasted figures by $460 million. Despite a rise in the provision for credit losses to $1.5 billion, the stock experienced a 1% boost in pre-market trading.
Wall Street Analysts Forecast
The investment community remains optimistic about Bank of America's potential. With insights from 22 analysts, the average one-year price target for BAC stands at $48.13. The projections feature a high estimate of $58.00 and a low of $33.90, indicating a significant upside of 31.26% compared to the current trading price of $36.67. For a more comprehensive analysis, visit the Bank of America Corp (BAC, Financial) Forecast page.
Driven by strong consensus among 25 brokerage firms, Bank of America Corp's (BAC, Financial) average brokerage recommendation reflects an "Outperform" status with a rating of 1.9. This rating is indicative of a favorable outlook, sitting closer to the 'Strong Buy' benchmark on a scale from 1 to 5.
According to GuruFocus estimates, the projected GF Value for Bank of America Corp (BAC, Financial) within a year is evaluated at $43.38. This suggests a potential upside of 18.3% from its present value of $36.67. The GF Value represents GuruFocus' fair market valuation, calculated through a blend of historical price multiples, past business growth, and future performance projections. Explore further details on the Bank of America Corp (BAC) Summary page.
