UBS Downgrades Bank of America to Neutral, Raises Price Target to $40
Portfolio Pulse from Benzinga Newsdesk
UBS analyst Erika Najarian downgraded Bank of America (BAC) from Buy to Neutral while raising the price target from $39 to $40.
April 04, 2024 | 2:49 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Bank of America was downgraded by UBS from Buy to Neutral, but its price target was increased from $39 to $40.
The downgrade to Neutral suggests a more cautious outlook on BAC's stock performance in the short term. However, the increase in price target indicates a positive view on the company's valuation. This mixed signal could lead to neutral short-term price movement as investors digest both pieces of information.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100