Why Analysts Are Closely Watching Bank of America Corporation (BAC)

Bank of America Corporation (NYSE:BAC) is among the most profitable mega cap stocks to buy. On February 9, JPMorgan slightly lifted the price target on Bank of America Corporation (NYSE:BAC) to $61.50 from $61 and maintained an Overweight rating. This revision is part of the adjustments in the large-cap bank space, as the market continues to project two rate cuts and long-term rates to “remain sticky with inflation concerns,” the firm highlighted. JPMorgan believes sector rotation, favorable economic trends, and stable fundamentals will weigh in on bank stocks.

Previously, on January 15, Truist Securities trimmed its price target on Bank of America Corporation (NYSE:BAC) to $60, down from $62, and maintained a Buy rating on the stock. This downward revision follows minor adjustments to the firm’s provision assumptions and projections, reflecting a lagging momentum in share repurchases.

That said, Truist Securities maintains its EPS guidance for the bank at $4.30 for 2026 and $4.95 for 2027. The firm’s model now forecasts 160 basis points of positive operating leverage within the year, lower than the bank’s own estimate of 200 basis points.

Bank of America Corporation (NYSE:BAC) is a North Carolina-based provider of various financial products and services. Founded in 1784, the bank operates through four segments: Consumer Banking, Global Wealth & Investment Management, Global Banking, and Global Markets.

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