Bank of America (BAC) Gains Price Target Upgrade as Q3 Earnings Beat Analyst Expectations

Bank of America Corporation (NYSE:BAC) ranks among the best financial stocks to buy according to billionaire Ken Fisher. On October 24, Freedom Capital Markets reaffirmed its Buy rating on Bank of America Corporation (NYSE:BAC) and increased its price target to $59.50 from $56.50, following the bank’s third-quarter results. The bank’s Q3 2025 revenue of $28.1 billion was in line with market forecasts, while its earnings per share of $1.06 crossed the $1.04 estimate.

Bank of America’s efficiency ratio improved to 62% during the quarter as revenue growth surpassed expense growth. Non-interest income, especially in investment banking, drove the performance, with fee revenue rising 43% year-over-year.

Meanwhile, Bank of America’s net interest income increased 9% to $15.2 billion during the quarter compared to the same period last year. The bank now projects that its interest income for the fourth quarter will fall between $15.6 billion and $15.7 billion, an increase of almost 8% over the previous year.

Bank of America Corporation (NYSE:BAC) is a financial holding company that offers a variety of services, including savings accounts, deposits, wealth and cash management, investment funds, online banking, and other financial products.

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