Bank of America stock targets raised by major analysts. Piper Sandler lifted its price target on BAC to $59 from $53 following the company's strong first quarter results, while maintaining a Neutral rating. On the same day, Truist Financial increased its price goal to $61 from $57, keeping a Buy rating after better-than-expected Q1 performance. Both firms raised their earnings estimates. The bank's CFO noted that net interest income exceeded expectations in the quarter, prompting management to raise full-year 2026 NII growth guidance to a range of 6% to 8%, up from previous expectations. This adjustment reflects a shift in interest rate outlook, with markets now pricing in no rate cuts instead of the previously expected two cuts.
