Bank of America price target raised to $61 from $59 at TD Cowen

Investing.com - TD Cowen has raised its price target on Bank of America (NYSE:BAC) stock to $61.00 from $59.00 while maintaining a Buy rating. The banking giant, currently trading at $52.28 and commanding a market capitalization of $383.18 billion, sits near its 52-week high of $52.88.

The price target increase follows Bank of America’s quarterly earnings report, which TD Cowen described as a "textbook quarter" with core earnings per share of $1.06.

The financial institution delivered what the research firm called a "broad-based earnings beat" along with a positive update to its net interest income guidance.

Bank of America emphasized stable fourth-quarter expenses in its report, which TD Cowen noted "underscores continued efficiency tailwinds" for the bank.

The research firm also highlighted Bank of America’s upcoming Investor Day as an opportunity for management to differentiate itself from competitors, supporting TD Cowen’s continued bullish outlook on the stock. InvestingPro analysis suggests the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report.

In other recent news, Bank of America Corp reported stronger-than-expected financial results for the third quarter of 2025. The company’s earnings per share (EPS) reached $1.06, surpassing the analysts’ forecast of $0.95. Revenue also exceeded expectations, coming in at $28.09 billion compared to the projected $27.48 billion. These positive earnings and revenue figures are notable developments for the bank. Additionally, the bank’s stock saw a rise in pre-market trading, although specific stock price movements are not the focus here. These recent developments highlight Bank of America’s financial performance in the latest quarter.

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