Barclays analyst Jason Goldberg maintains $Bank of America (BAC.US)$ with a buy rating, and maintains the target price at $49.
According to TipRanks data, the analyst has a success rate of 61.6% and a total average return of 11.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Bank of America (BAC.US)$'s main analysts recently are as follows:
The firm expects a decline in net interest incomes for Q3, averaging a 4% drop due to delayed deposit pricing adjustments and continued modest loan growth, which are anticipated to surpass the benefits from fixed asset repricing. Net interest income is only projected to see a positive shift in Q2 of 2025. Additionally, although apprehensions regarding charge-offs, especially in credit card and commercial real estate sectors, have lessened recently, there is a possibility that banks might persist in increasing their reserves.
The acceleration of rate reductions is noted, and it's anticipated that there could be an additional 150 basis points in rate cuts by mid-2025, as per economic forecasts. While predicting the trajectory for net interest margins (NIM) can be challenging, a rapid rate cut pace generally favors midcap banks' NIM and presents a more varied outcome for larger banks.
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