Truist Raises BofA (BAC) Profit Estimates on Robust Fee Growth Outlook

Bank of America Corporation (NYSE:BAC) is one of the best high volume stocks to buy right now. On December 18, Truist raised the firm’s price target on Bank of America to $58 from $56 and maintained a Buy rating on the shares. This sentiment was posted as part of the firm’s broader research note that updated the firm’s model. The firm has boosted its 2027 profit estimates and noted that robust fee growth is more than enough to cover projected increases in spending and taxes. Despite higher overhead, the improved revenue outlook has led Truist to raise its bottom-line expectations for the fiscal year.

A day prior, on December 17, Keefe Bruyette analyst Christopher McGratty also raised the firm’s price target on Bank of America to $64 from $58 with an Outperform rating on the shares. This decision was made as the firm updated its estimates following conference updates and management meetings.

Earlier on December 12, Morgan Stanley lowered the firm’s price target on Bank of America to $68 from $70 and kept an Overweight rating on the shares. This decision was announced as Morgan Stanley lowered its Q4 2025 earnings per share/EPS estimate by 4% and its 2027 EPS view by 2.5% to account for lower investment banking fees and higher expenses. This was partially balanced by an increase in projected revenue from equities trading.

In other news, on December 9, the Portland Timbers announced a multi-year community impact partnership with BofA, which will become the club’s new front-of-jersey sponsor starting in 2026. This deal marks the first time BofA will be featured on a professional sports jersey. The partnership centers on the ‘Soccer with Us’ initiative, which aims to increase equity and access to the sport across Oregon and Southwest Washington through significant grassroots investments.

Bank of America Corporation (NYSE:BAC), through its subsidiaries, provides various financial products and services for individual consumers, small & middle-market businesses, institutional investors, large corporations, and governments worldwide.

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.

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