Freedom Broker Raises Target on Bank of America (BAC) After Strong Q1 Results

Bank of America Corporation (NYSE:BAC) ranks among the best stocks for a couch potato portfolio. On April 23, Freedom Broker boosted Bank of America’s price target to $65 from $61, maintaining a Buy rating on the company’s shares. The firm emphasized the bank’s solid first-quarter 2026 performance, which beat market forecasts in earnings per share, revenue, and key operating indicators. Bank of America announced GAAP EPS of $1.11, rising 25% year-over-year and 13% quarter-over-quarter, above the $1.01 estimate by 9.6%.

Deposit fees came in at 1.99%, beating expectations by 7 basis points. Meanwhile, fee income increased by 5 cents, mostly due to better asset management performance. Investment banking fees of $1.84 billion also met average forecasts, with advising, equity capital markets, and debt capital markets all in line.

In a similar vein, following the company’s Q1 2026 results, Truist Securities boosted its price target for Bank of America Corporation to $61 from $57 on April 16, keeping a Buy rating on the company’s shares. Truist raised its earnings per share expectations by 2% for 2026, discounting the first-quarter excess, and by 3% for 2027, owing to stronger revenues from both net interest income and fees, with only a slight adjustment from increased costs.

Along with greater growth expectations in trading, investment banking, and wealth management fees, the firm also included 8% net interest income growth this year, which is at the upper half of Bank of America’s revised guidance range.

Bank of America Corporation, through its subsidiaries, provides a range of financial products and services to individual consumers, small- and middle-market businesses, institutional investors, large corporations, and governments worldwide.

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