Bank of America price target lowered to $45 from $46 at Oppenheimer

Oppenheimer lowered the firm’s price target on Bank of America to $45 from $46 and keeps an Outperform rating on the shares. While critics may point to the unrealized losses on Bank of America’s held to maturity bond portfolio, management can point to its vast excess liquidity and the stable level of net interest income its balance sheet delivers, the firm says.