UBS analyst Erika Najarian upgrades $Bank of America (BAC.US)$ to a buy rating, and adjusts the target price from $40 to $53.
According to TipRanks data, the analyst has a success rate of 57.4% and a total average return of 10.8% 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:
The firm anticipates that capital markets will perform better than expected in the quarter, accompanied by positive remarks on the 2025 pipelines and that the benefits of a steeper curve will enhance the 2025 guidance. Additionally, the firm's median EPS estimate for the group in 2025 is projected to be 4% higher than the street consensus.
The outlook for bank stocks in 2025 is optimistic with expectations of accelerated earnings growth driven by factors such as improving loan growth, heightened capital markets activity, the return of positive operating leverage, and share buybacks. The expansion in price-to-earnings multiples is also anticipated, supported by a solid economic environment, reduced regulatory pressures, higher returns, and mergers and acquisitions. It is believed that large-cap banks will continue to exceed market performance into 2025 as their earnings growth accelerates.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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