Wolfe Research analyst Steven Chubak maintains $Bank of America (BAC.US)$ with a buy rating, and adjusts the target price from $46 to $54.
According to TipRanks data, the analyst has a success rate of 61.5% and a total average return of 15.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Bank of America (BAC.US)$'s main analysts recently are as follows:
For banks, the projection toward 2025 appears to be well established, with only minor adjustments needed in earnings models and estimates. Looking ahead to 2028, it is likely that these institutions will aim to maximize their growth, while maintaining a low-to-mid-teens return on tangible common equity. There is a broad skepticism regarding any significant reduction in regulatory and capital requirements that banks might face in the future. Overall, the banking sector is seen as reasonably valued, with certain opportunities still present.
Equity markets experienced a roughly 2% decline in December during what can be characterized as a post-election period relaxation, largely driven by a new understanding that rate cuts may not happen as soon as anticipated. Additionally, there was a continuation of reduced activity levels in investment banking from November after a notably strong performance in September and October. While December showed a slowdown, there is an anticipation of a vigorous start to 2025, as there is a general expectation of improvement in investment banking sectors, perceived more as a matter of 'when' rather than 'if'.
Note:
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