Bank of America Likely To Report Higher Q3 Revenue; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts

Bank of America Corporation (NYSE:BAC) is expected to release financial results for its third quarter, before the opening bell on Oct. 17, 2023.

Analysts expect the company to post quarterly earnings at 81 cents per share, compared to year-ago earnings of 81 cents per share. The company’s revenue might come in at $25.14 billion, compared to $23.57 billion in the year-ago period.

Bank of America shares gained 1.3% to trade at $27.10 on Monday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Morgan Stanley analyst Betsy Graseck maintained an Equal-Weight rating and cut the price target from $34 to $32 on Oct. 3, 2023. This analyst has an accuracy rate of 61%.
• Oppenheimer analyst Chris Kotowski maintained an Outperform rating and lowered the price target from $49 to $48 on Sept. 26, 2023. This analyst has an accuracy rate of 71%.
• Piper Sandler analyst Scott Siefers maintained an Underweight rating and cut the price target from $28 to $27.5 on Sept. 15, 2023. This analyst has an accuracy rate of 65%.
• HSBC analyst Saul Martinez initiated coverage on the stock with a Buy rating and a price target of $35 on Sept. 7, 2023. This analyst has an accuracy rate of 62%.
• Wells Fargo analyst Whit Mayo maintained an Overweight rating and cut the price target from $43 to $40 on Aug. 23, 2023. This analyst has an accuracy rate of 66%.

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