Evercore ISI raises Bank of America target to $63
Evercore ISI Group analyst Glenn Schorr maintained an Outperform rating on Bank of America and raised the price target to $63 from $61. This follows a series of analyst actions, including JPMorgan raising its target to $62.5 and Wells Fargo increasing its target to $67. Bank of America is scheduled to report second quarter earnings on July 14, with analysts expecting EPS of $1.10 and revenue of $30.26 billion.
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Bank of America Corporation is scheduled to release its second quarter earnings report before the opening bell on Tuesday, July 14. Analysts anticipate the Charlotte, North Carolina-based company to report quarterly earnings of $1.10 per share, an increase from 89 cents per share in the year-ago period. The consensus estimate for revenue stands at $30.26 billion, compared to $26.46 billion reported last year.
Evercore ISI Group analyst Glenn Schorr maintained an Outperform rating on Bank of America and raised the price target from $61 to $63. This adjustment adds to a series of recent analyst actions regarding the bank's stock.
JPMorgan analyst Vivek Juneja maintained an Overweight rating on Bank of America and raised the price target from $57.5 to $62.5. Recent analyst activity indicates varied sentiment regarding the stock's future performance. Wells Fargo analyst Mike Mayo maintained an Overweight rating and raised the price target from $65 to $67. Oppenheimer analyst Chris Kotowski downgraded the stock from Outperform to Perform on June 30, 2026, citing an accuracy rate of 81%. Conversely, Morgan Stanley analyst Betsy Graseck maintained an Overweight rating and raised the price target from $61 to $67 on June 29, 2026, with an accuracy rate of 62%.
Other analysts have also adjusted their outlooks. Truist Securities analyst John McDonald maintained a Buy rating and increased the price target from $61 to $64 on June 26, 2026, holding an accuracy rate of 76%. Citigroup analyst Keith Horowitz kept a Buy rating and lifted the price target from $62 to $66 on June 23, 2026, with an accuracy rate of 81%. Jefferies analyst David Chiaverini maintained a Buy rating and raised the price target from $60 to $65 on April 16, 2026, with an accuracy rate of 70%.
On June 29, Bank of America agreed to pay $7.5 million to settle the SEC's alleged charges against Merrill Lynch. Following this news, Bank of America shares fell 1.6% to close at $56.98 on Tuesday.
Analyst Ratings and Price Targets
| Analyst | Firm | Rating Change | New Price Target | Accuracy Rate |
|---|---|---|---|---|
| Glenn Schorr | Evercore ISI Group | Maintained Outperform | $63 | N/A |
| Vivek Juneja | JPMorgan | Maintained Overweight | $62.5 | N/A |
| Mike Mayo | Wells Fargo | Maintained Overweight | $67 | N/A |
| Chris Kotowski | Oppenheimer | Downgraded to Perform | N/A | 81% |
| Betsy Graseck | Morgan Stanley | Maintained Overweight | $67 | 62% |
| John McDonald | Truist Securities | Maintained Buy | $64 | 76% |
| Keith Horowitz | Citigroup | Maintained Buy | $66 | 81% |
| David Chiaverini | Jefferies | Maintained Buy | $65 | 70% |
How will the recent $7.5 million SEC settlement impact Bank of America's regulatory compliance costs and investor sentiment?
What factors are driving the divergence in analyst ratings, particularly Oppenheimer's downgrade versus other firms' price target increases?
Will Bank of America's earnings growth be sustainable given the projected revenue increase and potential economic headwinds?
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