Bank of America's stock, symbol BAC, has seen recent activity that warrants attention. As of January 6, 2025, the stock price was $45.40, with a pre-market increase of $0.29 to $45.69[1].
Trading volume is a crucial factor, and Bank of America's 30-day average daily volume stands at 31.13 million shares as of January 6, 2025[1]. This indicates a stable trading environment.
Recent news and announcements have been positive for Bank of America. The company is expected to benefit from the Federal Reserve's higher-for-longer rate environment, which should boost net interest income[4]. This favorable backdrop, combined with robust deposit growth in the Consumer Banking segment, positions Bank of America for cyclical profit growth in a growing economy.
Major analyst updates have also been bullish. The consensus price target for Bank of America is $46.32, based on ratings from 24 analysts, with a high of $58 issued by Barclays on January 6, 2025[2]. The three most recent analyst ratings from UBS, Truist Securities, and Barclays have an average price target of $54.33, indicating a 17.73% upside potential[2]. UBS upgraded their rating to buy with a price target of $53 on January 7, 2025[2].
Other relevant news includes the issuance of Accelerated Return Notes linked to the common stock of Amazon.com, Inc., by BofA Finance LLC, which are fully and unconditionally guaranteed by Bank of America Corporation[3]. However, this does not directly impact the stock price of Bank of America.
In summary, Bank of America's stock is poised for a strong 2025, driven by favorable economic conditions and robust deposit growth. With a stable trading volume and bullish analyst updates, the stock presents an attractive investment opportunity. The average 12-month price target from 20 Wall Street analysts is $52.26, representing a 13.09% upside potential[5].
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