BAC
JPM
Wall Street’s latest thumbs-up
Goldman Sachs decided Bank of America deserved a little more room to run. The firm lifted its price target to $63 from $58 and kept a Buy rating on BAC, implying about 16% upside from the previous close.
Why now?
This isn’t happening in a vacuum. BofA just posted a solid Q1, with $1.11 in EPS vs. $1.00 expected and $30.27 billion in revenue. Trading was hot, net interest income kept doing its thing, and card volume growth helped the engine hum along.
The AI subplot
The bank also rolled out a new AI tool for roughly 18,000 financial advisors. Translation: fewer repetitive tasks, more time for actual client work, and potentially a nicer productivity boost for wealth management down the road.
The Street is still bullish, but not unanimous
Analysts currently peg BAC as a Moderate Buy, with an average target around $60.65. That said, not every firm is in full cheerleader mode — JPMorgan, for example, trimmed its target to $57.50 earlier this week.
Big picture: BofA’s not just riding one earnings beat. It’s starting to look like the kind of bank that can keep surprising people — and Wall Street clearly doesn’t mind nudging the ceiling higher.