Goldman Sachs analyst Richard Ramsden maintains $Bank of America (BAC.US)$ with a buy rating, and sets the target price at $48.
According to TipRanks data, the analyst has a success rate of 66.4% and a total average return of 12.2% 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:
It's anticipated that net interest incomes may experience a decline of approximately 4% on average in the third quarter, due to delayed deposit repricing coupled with continued moderate loan growth, which is expected to surpass the repricing of fixed assets. Additionally, it's projected that a positive inflection in net interest income will not occur until the second quarter of 2025. While concerns related to charge-offs, especially those concerning credit cards and commercial real estate, have subsided recently, it is possible that banks will continue to build their reserves.
Interest rate reductions have commenced, and the pace at which they're occurring is quicker than anticipated, with further rate cuts expected by mid-2025. The trajectory for net interest margins (NIM) can be challenging to forecast, but typically, a swift pace of rate reductions tends to benefit NIM at mid-sized banks, whereas the impact on larger banks is more varied.
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