Bank of America (BAC) Stock Rated Buy on Strong Net Interest Income Outlook

Bank of America Corporation (NYSE:BAC) ranks among the hot stocks to invest in right now. On September 9, TD Cowen confirmed its Buy rating on Bank of America Corporation (NYSE:BAC) and set a price target of $54, citing the bank’s positive earnings forecast. The firm emphasized Bank of America’s advantageous position, which it says is based on the strength of net interest income (NII) and potential fee growth.

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TD Cowen reported that BofA CFO Alastair Borthwick gave a “consistent to favorable update on near-term earnings” at a recent investor conference, supporting the firm’s optimistic outlook on the company.

TD Cowen sees the bank’s upcoming Investor Day, which will be its first in 15 years, as a chance for management to close the company’s relative valuation gap.

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.