Bank of America price target raised to $35 from $34 at RBC Capital

RBC Capital raised the firm’s price target on Bank of America to $35 from $34 and keeps an Outperform rating on the shares after its Q1 earnings beat. The company’s diversified business model continues to demonstrate its ability to navigate through uncertain times, the analyst tells investors in a research note, adding that Bank of America’s interest sensitive balance sheet along with rising interest rates drove a strong increase in its net interest margins.