Bank of America price target raised to $37 from $35 at Piper Sandler

Piper Sandler raised the firm’s price target on Bank of America to $37 from $35 and keeps an Underweight rating on the shares. Despite a weaker Q2, net interest income could inflect more powerfully than the firm had foreseen when it initially altered its estimates with a mid-quarter update. Piper has sensed that investors are gravitating toward the name for such an inflection, which has helped with sentiment.