Bank of America (BAC) Gains Price Target Upgrade as Q3 Earnings Beat Analyst Expectations

Bank of America Corporation (NYSE:BAC) ranks among the best financial stocks to buy according to billionaire Ken Fisher. On October 24, Freedom Capital Markets reaffirmed its Buy rating on Bank of America Corporation (NYSE:BAC) and increased its price target to $59.50 from $56.50, following the bank’s third-quarter results. The bank’s Q3 2025 revenue of $28.1 billion was in line with market forecasts, while its earnings per share of $1.06 crossed the $1.04 estimate.

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Bank of America’s efficiency ratio improved to 62% during the quarter as revenue growth surpassed expense growth. Non-interest income, especially in investment banking, drove the performance, with fee revenue rising 43% year-over-year.

Meanwhile, Bank of America’s net interest income increased 9% to $15.2 billion during the quarter compared to the same period last year. The bank now projects that its interest income for the fourth quarter will fall between $15.6 billion and $15.7 billion, an increase of almost 8% over the previous year.

Bank of America Corporation (NYSE:BAC) is a financial holding company that offers a variety of services, including savings accounts, deposits, wealth and cash management, investment funds, online banking, and other financial products.

While we acknowledge the potential of BAC to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BAC and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.