BAC - Bank of America's Growth Boosted by Strong Fees and Operating Efficiency: Goldman Sachs Analyst | Benzinga
Goldman Sachs analyst Richard Ramsden reiterated a Buy rating on Bank Of America Corp (NYSE:BAC) with a price target of $45.
Bank of America reports fiscal 2024 second-quarter net income of $6.9 billion, beating estimates. Revenue increases 0.8% year over year to $25.5 billion, surpassing expectations.
Bank of America anticipates net interest income of ~$14.50 billion in the fourth quarter.
Ramsden noted the results as slightly better than expectations, given a core Pre-provision Net Revenue (PPNR) of $9.2 billion beat the Street and Goldman Sachs estimate by 2% and 5% on better fees, slightly lower Net Interest Income (NII), and better ...