Morgan Stanley raised the firm’s price target on Bank of America to $48 from $47 and keeps an Overweight rating on the shares. A capital markets rebound drove the bank’s 7% EPS beat, while BofA also saw revenue beats in investment banking fees, FICC markets, equities markets and wealth management fees, the analyst tells investors in a post-earnings note. The firm raised its 2025 EPS forecast by 2% to $3.98 on higher fee income, driven by trading and wealth management, and higher net interest income, driven by deposit growth.
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