JPMorgan set a new price target of $62 for Bank of America shares. This marks a reduction from its previous target of $68.
The investment bank maintained its 'Overweight' rating on the stock. This rating indicates a continued positive outlook.
The price target reduction may reflect adjustments to earnings models or market valuation multiples. JPMorgan's reaffirmation of the 'Overweight' rating suggests it views the stock as a better performer than the sector average.
FactSet reports the average analyst rating for Bank of America as a 'Buy'. The mean price target for the stock is $67.59.