Bank of America’s price target was cut to $51 from $53 at Evercore ISI

Evercore downgraded the company’s ISI Price target On Bank of America (Buck) to $51 from $53 and maintains an outperform rating on the stock. “Bank of America concluded 2024 with a good quarter and a strong outlook for 2025 characterized by consistent, outstanding revenue growth,” although this was coupled with “less outstanding expense growth,” which the company believes led to shares falling slightly while peers rose, As the analyst tells investors. The company has reduced its FY2025 EPS presentation to $3.60 from $3.81 and FY2026 EPS to $4.52 from $4.78 as it now expects greater pressure on expenses than previously expected.

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