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Truist Raises BofA (BAC) Profit Estimates on Robust Fee Growth Outlook

Bank of America Corporation (NYSE:BAC) is one of the best high volume stocks to buy right now. On December 18, Truist raised the firm’s price target on Bank of America to $58 from $56 and maintained a Buy rating on the shares. This sentiment was posted as part of the firm’s broader research note that updated the firm’s model. The firm has boosted its 2027 profit estimates and noted that robust fee growth is more than enough to cover projected increases in spending and taxes. Despite higher overhead, the improved revenue outlook has led Truist to raise its bottom-line expectations for the fiscal year.

A day prior, on December 17, Keefe Bruyette analyst Christopher McGratty also raised the firm’s price target on Bank of America to $64 from $58 with an Outperform rating on the shares. This decision was made as the firm updated its estimates following conference updates and management meetings.

Earlier on December 12, Morgan Stanley lowered the firm’s price target on Bank of America to $68 from $70 and kept an Overweight rating on the shares. This decision was announced as Morgan Stanley lowered its Q4 2025 earnings per share/EPS estimate by 4% and its 2027 EPS view by 2.5% to account for lower investment banking fees and higher expenses. This was partially balanced by an increase in projected revenue from equities trading.

In other news, on December 9, the Portland Timbers announced a multi-year community impact partnership with BofA, which will become the club’s new front-of-jersey sponsor starting in 2026. This deal marks the first time BofA will be featured on a professional sports jersey. The partnership centers on the ‘Soccer with Us’ initiative, which aims to increase equity and access to the sport across Oregon and Southwest Washington through significant grassroots investments.

Bank of America Corporation (NYSE:BAC), through its subsidiaries, provides various financial products and services for individual consumers, small & middle-market businesses, institutional investors, large corporations, and governments worldwide.

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.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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

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When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

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Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

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