Wells Fargo raised the firm’s price target on Bank of America (BAC) to $62 from $60 and keeps an Overweight rating on the shares. The firm expects Bank of America to post a new 16%-18% ROTCE target at its Nov. 5 investor day on expectations that it can better monetize its unique franchise.
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:
- Mixed options sentiment in Bank of America with shares up 1.46%
- Anthropic’s Google Deal Makes Broadcom Stock a Winner as Amazon Faces Tougher Questions
- Inflation Stubbornly Persists as Fed Eyes Rate Cut Next Week
- Fed floats smaller capital hikes for big banks, Bloomberg reports
- Trump Trade: President Trump closes billion-dollar deals with Australia