Here's why Wall Street is starting to place bets on BofA's famously risk-averse CEO

Core Insights - Bank of America CEO Brian Moynihan is experiencing a positive response following the bank's first investor day in 14 years, where he presented the evolving business model to investors and analysts [1][2][6] - Investors reportedly appreciated Moynihan's presentation, which aimed to differentiate Bank of America from competitors like JPMorgan, led by Jamie Dimon [3][9] - Despite a slight decline in shares post-presentation, Bank of America’s stock performed better than the broader market and key competitors [9][11] Company Performance - Following the investor day, 20 analysts raised their price targets for Bank of America shares, with Morgan Stanley listing it as a top pick among big banks, setting a target of $70 while the stock trades around $50 [10] - The investor day was intended to signal a shift towards "responsible growth," indicating a more risk-on approach within the limits set by Moynihan [6][12] - After-hours trading showed a recovery in share prices, suggesting a positive investor sentiment despite initial declines during the event [11] Future Outlook - The success of Moynihan's strategy will depend on achieving better earnings growth and meeting the target return on tangible equity ratio of 18%, which is crucial for assessing bank performance [13] - If the recent positive trends are sustained, there is potential for Moynihan to extend his tenure beyond the planned retirement in five years [14]