Jefferies Starts Bank of America (BAC) at Buy

Jefferies analyst David Chiaverini initiates coverage on Bank of America (NYSE: BAC) with a Buy rating and a price target of $60.00.

The analyst comments "Bank of America (BAC) – BUY: Our BUY rating reflects BAC's strong NII outlook of 5-7% over the next five years, supported by fixed-asset repricing, and expectations for disciplined expense growth that should drive durable operating leverage. BAC’s strong consumer deposit base is a positive differentiator, and we also value its solid credit quality. We believe improving ROTCE to 16-18% over 2-3 years (from 14% in 2025) should help narrow BAC’s valuation gap versus its closest peer, JPM."

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 $48.14 yesterday.

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