Argus analyst Stephen Biggar has adjusted the price target for Bank of America (BAC, Financial), lowering it to $47 from the previous $53, while maintaining a Buy rating on the stock. This change follows the company's first-quarter performance report, which showcased a 4% annual increase in average loans and a consistent rise in net interest income. Additionally, the bank experienced robust trading revenues amid the volatile market conditions.
Despite these positive indicators, Argus has cautioned that the recovery of investment banking fees could face delays. This is attributed to ongoing market disturbances related to tariffs, which have impacted deal-making activities. Investors are advised to consider these market challenges when evaluating Bank of America's stock potential.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 22 analysts, the average target price for Bank of America Corp (BAC, Financial) is $47.50 with a high estimate of $57.00 and a low estimate of $33.90. The average target implies an upside of 25.64% from the current price of $37.81. More detailed estimate data can be found on the Bank of America Corp (BAC) Forecast page.
Based on the consensus recommendation from 25 brokerage firms, Bank of America Corp's (BAC, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Bank of America Corp (BAC, Financial) in one year is $43.38, suggesting a upside of 14.75% from the current price of $37.805. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Bank of America Corp (BAC) Summary page.
