Bank Of America Loan Growth Is Better Than Peers, Analysts Predict 'Good Core Operating Leverage'
Portfolio Pulse from priya@benzinga.com
Bank of America Corp (NYSE:BAC) shares rose in early trading as analysts from Goldman Sachs, JPMorgan, and Oppenheimer provided positive outlooks despite a broader financial stock downturn. Analysts highlighted BAC's better-than-expected core earnings, net interest income, and loan growth compared to peers, with revised price targets reflecting optimism about the bank's operating leverage and future performance.
April 17, 2024 | 4:46 pm
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Bank of America's shares rose after analysts from Goldman Sachs, JPMorgan, and Oppenheimer provided positive feedback on its earnings, net interest income, and loan growth, indicating a strong future performance.
The positive analyst ratings and upward revisions in price targets from reputable financial institutions like Goldman Sachs, JPMorgan, and Oppenheimer signal strong investor confidence in Bank of America's future performance. This is further supported by BAC's better-than-expected core earnings and net interest income, alongside a favorable comparison in loan growth against its peers. Such endorsements are likely to bolster BAC's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100