On July 5th, Gelonghui | Investment bank Seaport Research Partners upgraded Bank of America's rating from 'Neutral' to 'Buy'. Seaport's senior analyst Jim Mitchell stated that the team has set Bank of America's target price at USD 48, the PE ratio of EPS in 2025 is 12.5 times, higher than the previous 10.4 times. In addition, the analyst predicts that Bank of America's EPS growth expectations will increase from 0% in the second quarter of this year to 2% for the full year of 2024, and then to 7% in 2025. The institution stated that Bank of America's net interest income is low, with a net interest rate of 1.99% in the first quarter, far below the peak of 2.53% in the first quarter of 2019. In addition, Mitchell stated that the company holds to maturity with a slow reinvestment pace, hedges uncertain maturities, and has higher than average asset sensitivity.
大行评级 | 投行Seaport：上调美国银行评级至“买入” 目标价为48美元
Bank of America's rating upgraded to "buy" by Seaport investment bank, with a target price of $48.
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