Phillip Securities Raises the PT on Bank of America Corporation (BAC), Keeps a Buy

Bank of America Corporation (NYSE:BAC) is one of the Most Undervalued Long Term Stocks to Buy Right Now. On October 21, Phillip Securities analyst Glenn Thum raised the price target on Bank of America Corporation (NYSE:BAC) from $50 to $56, while maintaining a Buy rating on the stock.

The analyst noted his bullish sentiment is based on the company’s financial performance. The bank grew its earnings by 23% year-over-year during the fiscal third quarter of 2025. This was above expectations and was largely driven by a record rise in net interest income, asset repricing, and growth in deposits and loans.

Moreover, Bank of America Corporation (NYSE:BAC) also grew its brokerage revenue by 11% and banking fees by 43%, noted the analyst. The analyst also highlighted the wealth management segment, which makes a significant part of the company’s revenue, also benefited from higher market valuations and increased client balances. Thum anticipates continued growth in net interest income and wealth management fees.

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

While we acknowledge the potential of BAC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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