These Analysts Revise Price Targets On Bank of America Following Upbeat Q1 Results

Bank of America Corporation BAC reported better-than-expected Q1 results.

Revenue increased 13% Y/Y to $26.3 billion, beating the consensus of $25.13 billion. EPS for the quarter was $0.94, compared to $0.80 in 1Q22, beating the consensus of 0.82.

Bank of America shares rose 0.6% to close at $30.56 on Tuesday and lost 1.7% in pre-market trading session.

These analysts made changes to their price targets on Bank of America following earnings announcement.

• Citigroup cut the price target on Bank of America from $38 to $33. Citigroup analyst Keith Horowitz maintained the stock with a Neutral.
• Keefe, Bruyette & Woods raised the price target on Bank of America from $28 to $29. Keefe, Bruyette & Woods analyst David Konrad maintained an Underperform rating.
• Oppenheimer raised the price target on Bank of America from $44 to $47. Oppenheimer analyst Chris Kotowski maintained the stock with an Outperform rating.
• Morgan Stanley increased the price target on Bank of America from $31 to $32. Keefe, Morgan Stanley analyst Betsy Graseck maintained the stock with an Equal-Weight.

Read More: Investor Optimism Declines Following Earnings Reports