Crude Oil Down 1%; Bank of America Posts Upbeat Earnings
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 16 2025
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Source: Benzinga
U.S. Stock Market Performance: U.S. stocks showed mixed results with the Dow Jones up 0.1%, while NASDAQ fell 0.17%. Bank of America reported strong fourth-quarter earnings, exceeding analyst expectations.
Global Market Trends: European and Asian markets closed higher, with notable gains in Germany and France. Meanwhile, U.S. retail sales rose by 0.4% in December, but initial jobless claims increased to 217,000.
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Analyst Views on BAC
Wall Street analysts forecast BAC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BAC is 61.17 USD with a low forecast of 55.00 USD and a high forecast of 71.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
18 Analyst Rating
14 Buy
4 Hold
0 Sell
Strong Buy
Current: 53.200
Low
55.00
Averages
61.17
High
71.00
Current: 53.200
Low
55.00
Averages
61.17
High
71.00
About BAC
Bank of America Corporation is a bank holding company and a financial holding company. Its segments include Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking and Global Markets. Consumer Banking segment offers a range of credit, banking and investment products and services to consumers and small businesses. The GWIM includes two businesses: Merrill Wealth Management, which provides tailored solutions to meet clients' needs through a full set of investment management, brokerage, banking and retirement products and Bank of America Private Bank, which provides comprehensive wealth management solutions. Global Banking segment provides a range of lending-related products and services, integrated working capital management and treasury solutions, and underwriting and advisory services. Global Markets segment offers sales and trading services and research services to institutional clients across fixed-income, credit, currency, commodity, and equity businesses.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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Warren Buffett's Investment Moves Before Retirement
- Berkshire's Investment Shift: Buffett sold approximately 464,781,994 shares of Bank of America, about 45% of his stake, between July 2024 and September 2025, likely to lock in profits and respond to valuation changes, impacting Berkshire's investment portfolio performance.
- View on Bank of America: Despite Buffett's waning interest in Bank of America, his understanding of its interest rate sensitivity made it a top investment for nearly a decade; however, the stock's premium to book value made his selling decision particularly significant.
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