Bank of America price target raised to $53 from $49 at Barclays

Barclays raised the firm’s price target on Bank of America to $53 from $49 and keeps an Overweight rating on the shares. The company’s Q3 earnings topped estimates as both net interest income and fee income exceeded forecasts while expenses and its provision for credit losses were in-line with intra-quarter commentary, the analyst tells investors in a research note. A lower-than-expected tax rate also helped while share buyback continued at Q2’s pace, the firm added.