Seaport Research upgraded Bank of America to Buy from Neutral with a $48 price target. The analyst says recent management guidance implies turnover across the bank’s loan book is improving, with potential further upside as cash flow hedges on commercial and industrial loans mature. Meanwhile, industry deposit growth is coming in better than expected, and the “higher-for-longer” interest rate environment buys more time for Bank of America to re-price assets at higher rates and return to balance sheet growth, the analyst tells investors in a research note. With further net interest income tailwinds in 2026 and beyond and a “still inexpensive” multiple, the stock is attractively valued, contends Seaport.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% 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:
- Bank of America Files Key Report
- Bank of America Files Key Financial Report
- Bank of America Comments on Stress Test Results; Plans to Increase Quarterly Dividend 8% to $0.26 Per Share
- Bank of America raises quarterly dividend 8% to 26c per share
- The Federal Reserve Releases Its 2024 Stress Test Results