Analysts Are Cutting Price Targets of These 5 Stocks

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1. Bank of America Corporation (NYSE:BAC)

Number of Hedge Fund Holders: 97

Shares of Bank of America Corporation (NYSE:BAC) slipped nearly two percent on Tuesday, January 17, after Piper Sandler turned bearish on the banking giant.

Analyst R. Scott Siefers downgraded Bank of America Corporation (NYSE:BAC) from “Neutral” to “Underweight” and slashed his price target for BAC stock from $36 per share to $33 per share. Siefers was primarily moved by the potential pressure on the company’s net interest income (NII) outlook.

The price-target cut came just days after the company released its Q4 results. Bank of America Corporation (NYSE:BAC) reported earnings of 85 cents per share, beating the consensus of 77 cents. The quarterly revenue of $24.66 billion also surpassed the expectations of $24.33 billion.

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