Truist Securities maintains Buy rating on Bank of America, $58 price target

Truist Securities maintains Buy rating on Bank of America, $58 price target

Truist Securities maintained their Buy rating on Bank of America's stock with a price target of $58.00.

The price target implies an upside of 12.9% from the Oct 14 close of $51.39.

Key takeaways from the analyst note

Strong Growth Potential: Bank of America is expected to achieve multiple years of positive operating leverage and above-average EPS growth, driven by a gradual repricing of fixed-rate assets and steady organic growth in its consumer and business banking segments.

Regulatory Clarity and Capital Return: Increased regulatory clarity under the new administration is anticipated to enable Bank of America to return additional capital to shareholders, further supporting its stock valuation and growth prospects.

Explore more price target data and ratings for Bank of America on the Forecasts tab.