Analysts Cut Bank of America (BAC) Price Targets Amid Adjusted Provisions and Buyback Pause

Bank of America Corporation (NYSE:BAC) ranks among the biggest publicly traded asset managers. On January 15, Truist Securities cut its price target for Bank of America Corporation (NYSE:BAC) from from $62 to $60, retaining a Buy rating on the banking giant. The drop reflects minor adjustments in the firm’s provision estimates, as well as plans for BofA to halt its share buybacks. Pixabay/Public Domain In contrast to Bank of America’s medium-term goal of 200–300+ basis points, the firm’s model now predi ...