BAC
Earnings came in hot
Bank of America just did the thing companies love most: beat expectations and then watch the analysts scramble to update their spreadsheets. The bank posted $1.11 a share on $30.272 billion in revenue, both above Wall Street’s estimates, while CEO Brian Moynihan said the quarter showed strong momentum, solid execution, and improving returns.
The analysts are turning up the volume
The real follow-through came after the earnings report, when a few big-name firms decided BofA deserved a prettier number on their models:
- Keefe, Bruyette & Woods kept an Outperform rating and lifted its target from $63 to $64
- Truist Securities kept a Buy rating and raised its target from $57 to $61
- Evercore ISI also stayed at Outperform and bumped its target from $55 to $61
That’s not exactly a standing ovation, but it is Wall Street saying, “Okay, fine, the bank deserves a little more credit than we gave it yesterday.”
Why you should care
BofA shares were only down 0.1% to $54.28 Thursday, which tells you the market mostly shrugged instead of swooning. Still, higher targets after a beat can help keep sentiment propped up, especially for a giant lender where investors care a lot about earnings power, operating leverage, and whether the consumer is still holding up.
Big picture: if the quarter is any sign, Bank of America isn’t just surviving the rate-and-growth roller coaster — it’s making analysts climb back into the cart.