BAC - Bank Of America Would Bear The Brunt Of Higher Operating And Credit Costs: Analyst | Benzinga
BMO Capital Markets analyst James Fotheringham maintained the Market Perform rating on Bank Of America Corporation (NYSE:BAC), lowering the price target to $36 from $37.
Following BAC’s 4Q23 fees and cost-driven miss, the analyst lowered the near-term estimates by 7% due to higher than previously modeled operating and credit costs, in tandem with lower expected share repurchases.
Fotheringham says he sees more reliable return potential from other U.S. FIG stocks under his coverage.
For instance, the analyst highlighted greater investment opportunities among aircraft lessors AerCap Holdings N.V. (NYSE:AER) and Air Lease Corporation (NYSE: