Truist Increases PT on Bank of America to $53, Maintains Buy Rating On the Stock

By Ali Hassan | July 13, 2025, 12:27 AM

Bank of America Corporation (NYSE:BAC) is one of the 12 Best Stocks to Invest in for Good Returns. On July 9, Truist increased the price target on Bank of America Corporation (NYSE:BAC) from $51 to $53, maintaining its Buy rating on the stock.

John McDonald from Truist Financial made the price upgrade on BAC ahead of the Q2 2025 release. The analyst pointed out that the recessionary fears that fueled the steep sell-off before the last quarter’s results mostly played out in multiples, as did the subsequent rebound.

Truist Increases PT on Bank of America to $53, Maintains Buy Rating On the Stock
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McDonald expects Bank of America’s net interest income to be higher, though its net interest margins are likely to stay flatter compared to Q1 2025. The company posted net income of around $7.4 billion in Q1, up by 11% year-over-year. Whereas the net interest income soared 3% year-over-year.

Bank of America Corporation (NYSE:BAC) is a bank holding company and a financial holding company.

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

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