Morgan Stanley lowered the firm’s price target on Bank of America (BAC) to $56 from $57 and keeps an Equal Weight rating on the shares. The robust capital markets rebound the firm expected in 2025 is not playing out as anticipated and the firm is lowering its estimates for investment banking revenues on the back of recent market conditions as volatility likely pushes out deal launches. However, large-cap bank and mid-cap advisor stocks “appear oversold against our new base case,” the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BAC:
- Bank of America Analyst Sees Apple and IBM as ‘Defensive’ Picks amid Market Turmoil
- Nvidia (NVDA) Stock Is Trading at a “Compelling Price,” Says Bank of America
- Small Cap Stocks (IWM) Are Not Indicating a Recession, Says BofA
- 3 Best Stocks to Buy Now, 3/12/2025, According to Top Analysts
- Bank of America Surprises Junior Bankers with Role Eliminations