Is Bank of America Stock Going to $53? 1 Wall Street Analyst Thinks So.

Bank of America (NYSE: BAC) stock had quite a good 2024, cruising more than 30% higher in price to notch a convincing beat over the bellwether S&P 500 index. There are more prosperous times in store for the ubiquitous bank, if a recent and bullish analyst take proves to be accurate.In mid-January, Truist Securities's John McDonald published a new analysis of Bank of America just after the lender reported its fourth-quarter 2024 results. Those figures compelled McDonald to lift his price target incrementally; he now feels the bank is worth $53 per share, $1 higher than his previous estimation. He maintained his buy recommendation on the shares. According to reports, McDonald's adjustment mirrors his tweaks to profitability estimates for full-year 2025 and the following year. Although he shaved his 2025 per-share earnings estimate by 1%, he raised his forecast for 2026 by the same percentage.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool