Barclays Hikes BofA (BAC) PT To $71 on Expectations of Sustained Earnings Momentum in 2026

Group 1 - Bank of America Corporation (NYSE:BAC) is gaining attention from hedge funds as a promising investment opportunity [1][2] - Barclays raised its price target for Bank of America to $71 from $59, maintaining an Overweight rating, citing expectations of sustained earnings momentum into 2026 [1][3] - Truist also increased its price target for Bank of America to $58 from $56, keeping a Buy rating, reflecting stronger revenue growth driven by higher fees despite rising expenses and tax rates [2] Group 2 - Morgan Stanley reduced its price target for Bank of America from $70 to $68 while maintaining an Overweight rating, due to a downward revision of earnings expectations, including a 4% cut in Q4 EPS estimate and a 2.5% cut in the 2027 forecast [3] - The adjustments by Morgan Stanley are influenced by anticipated softer investment banking fees and increased operating expenses, although a stronger outlook for equities trading revenue provides some mitigation [3] - Bank of America offers a wide range of financial products and services to various clients, including individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments globally [4]