Truist Increases Bank of America (BAC) Price Target, Cites Better-Than-Expected Trading Growth
Yahoo Finance ·
Truist Increases Bank of America (BAC) Price Target, Cites Better-Than-Expected Trading Growth Vardah Gill Sun, June 28, 2026 at 12:02 AM EDT 2 min read BAC TFC Bank of America Corporation (NYSE: BAC ) is included among Billionaire Steven Cohen's Top 11 Dividend Stock Picks . On June 26, Truist raised its price recommendation on Bank of America Corporation (NYSE:BAC) to $64 from $61. It reiterated a Buy rating on the shares. The update came as part of a broader research note covering universal and regional banks. Analyst John McDonald said the bank's first sales and trading guidance for the quarter was raised to "better than" 15% year over year in early June, supported by strong equity market performance, particularly in the Asia-Pacific region. He added that the same strength is also contributing to higher expenses during the quarter. A few days earlier, on June 23, Citi increased its price goal on BAC to $66 from $62. It kept a Buy rating on the stock as part of its second-quarter preview. The firm said Bank of America's commentary at recent investor conferences has been constructive and believes stronger banking and trading results could drive upside to second-quarter estimates. Bank of America Corporation (NYSE:BAC) is a bank holding company and a financial holding company. Its business segments include Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets. While we acknowledge the potential of BAC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock . READ NEXT: 10 Best Dividend Stocks to Buy for Passive Income and 10 Best Canadian Dividend Stocks to Buy for the Next 5 Years Disclosure: None. Follow Insider Monkey on Google News .
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