Bank of America (BAC) Numbers Tweaked Higher at Evercore Partners Post Q3

October 17, 2013 6:47 AM EDT Send to a Friend
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Price: $17.03 +0.24%

Rating Summary:
    17 Buy, 12 Hold, 4 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 27 | Down: 26 | New: 17
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Evercore Partners analyst Andrew Marquardt bumped estimates up and his price target on Overweight-rated Bank of America (NYSE: BAC) from $16 to $17 following Q3 results.

Marquardt notes, "'13 to $1.00 (from $0.91), '14 to $1.36 (from $1.30) '15 to $1.63 (from $1.52) as we model credit costs remaining lower for longer, have incrementally higher confidence in expense saves falling to the bottom line and see ongoing stabilization in revenue trends. P/T goes to $17 (from $16) and implies 10.4x '15 EPS ests and 1.1x '14 TBV."

For an analyst ratings summary and ratings history on Bank of America click here. For more ratings news on Bank of America click here.

Shares of Bank of America closed at $14.56 yesterday.


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