Wall Street Bullish on Bank of America (BAC), Here's Why?

Bank of America Corporation (NYSE:BAC) is one of the Best Financial Stocks to Buy Right Now. Wall Street is bullish on the stock since the company topped EPS estimates for its fiscal second quarter of 2025. Bank of America Corporation (NYSE:BAC) delivered a net income of $7.1 billion, up from $6.9 billion a year ago. This translated to an EPS of $0.89, which topped the consensus by $0.03. However, the revenue of $26.46 billion, which grew 4.28% year-over-year, fell short of the consensus by $269.55 million.

Management attributed net income growth to a strong net interest income, which grew for the fourth consecutive quarter, driven by eight consecutive quarters of deposit growth and 7% year-over-year loan growth. Brian Moynihan, CEO of Bank of America Corporation (NYSE:BAC) noted that the consumers remain resilient with healthy spending and asset quality.

Several analysts have reiterated their bullish sentiment on the stock. Earlier on August 1, Vivek Juneja from J.P. Morgan raised the firm’s price target on Bank of America Corporation (NYSE:BAC) from $48 to $51, while reiterating a Buy rating. Later, Keith Horowitz from Citi also reiterated a Buy rating on the stock with a $54 price target. Most recently, Mikhail Paramonov from Freedom Capital raised the price target on the stock from $47 to $56.5, while reiterating a Buy rating.

Bank of America Corporation (NYSE:BAC) is a financial services company that offers banking, investment, and wealth management solutions.

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