Bank of America Analysts Increase Their Forecasts After Upbeat Earnings

Bank of America Corp BAC reported better-than-expected earnings for its third quarter on Tuesday.

The bank said EPS for the quarter was $0.90, compared to $0.81 in the year-ago period, beating the consensus of $0.81. Revenue increased 3% year-over-year to $25.32 billion, beating the consensus of $25.14 billion.

Bank of America shares fell 0.6% to trade at $27.43 on Wednesday.

These analysts made changes to their price targets on Bank of America following earnings announcement.

• BMO Capital raised the price target on Bank of America from $39 to $40. BMO Capital analyst James Fotheringham maintained a Market Perform rating.
• Oppenheimer increased the price target on Bank of America from $48 to $49. Oppenheimer analyst Chris Kotowski maintained an Outperform rating.

Now Read This: Blend Labs And 3 Other Stocks Under $3 Insiders Are Buying