Bank of America Likely To Report Higher Q3 Revenue; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts
Portfolio Pulse from Lisa Levin
Bank of America Corporation (NYSE:BAC) is expected to report higher Q3 revenue of $25.14 billion, compared to $23.57 billion in the year-ago period. The company's shares gained 1.3% to trade at $27.10 on Monday. Recent price target changes by analysts include Morgan Stanley cutting the target from $34 to $32, Oppenheimer lowering it from $49 to $48, Piper Sandler cutting it from $28 to $27.5, HSBC initiating coverage with a target of $35, and Wells Fargo cutting it from $43 to $40.
October 16, 2023 | 1:37 pm
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Bank of America is expected to report higher Q3 revenue. The company's shares gained 1.3%. Recent price target changes by analysts have been mixed.
The expected increase in Q3 revenue is a positive signal for the company's performance, which could lead to a rise in the stock price. The recent gain in the company's shares also indicates positive market sentiment. However, the mixed price target changes by analysts suggest uncertainty about the company's future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100