Baird: Weakness in Bank of America shares is a buying opportunity

Deep News01:23

From October 20 to 22 along the banks of Shanghai's Huangpu River, the 2026 Sustainable Global Leaders Conference returns once again. Nobel Prize and Turing Award winners will take the stage to discuss the future and trends of technology, and the internet-famous professor who "rescues" people from anxiety and the era of involution — Macfarlane — will hold a live dialogue with Xiang Biao!

Limited spots available, first come first served. Let us journey together toward the sustainable covenant! [Click to register]

Wall Street institution Baird upgraded Bank of America (BAC) shares to Outperform from Neutral on Thursday, while maintaining a price target of $62. Compared with the stock's closing price of $51 on Wednesday, the target price implies upside of 21%.

Even though Bank of America reported weak quarterly results before the market open on Thursday, the investment bank still raised its rating on the lender. Bank of America released its earnings on Wednesday: earnings per share fell short of market expectations, non-interest income was weak, and expenses rose somewhat, which weighed on the share price.

Baird believes the market's selloff was an "overreaction" and that the pullback in the share price offers a buying opportunity. The investment bank based this judgment on the fact that the bank's 2027 net interest income outlook contains a "marginally improving positive factor," while the stock valuation is attractive.

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[Click to register]<br><br>Wall Street institution <b>Baird</b> upgraded <b>Bank of America</b> (<b>BAC</b>) shares to Outperform from Neutral on Thursday, while maintaining a price target of $62. Compared with the stock's closing price of $51 on Wednesday, the target price implies upside of 21%.<br><br>Even though <b>Bank of America</b> reported weak quarterly results before the market open on Thursday, the investment bank still raised its rating on the lender. <b>Bank of America</b> released its earnings on Wednesday: earnings per share fell short of market expectations, non-interest income was weak, and expenses rose somewhat, which weighed on the share price.<br><br><b>Baird</b> believes the market's selloff was an \"overreaction\" and that the pullback in the share price offers a buying opportunity. 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Nobel Prize and Turing Award winners will take the stage to discuss the future and trends of technology, and the internet-famous professor who \"rescues\" people from anxiety and the era of involution — Macfarlane — will hold a live dialogue with Xiang Biao!<br><br>Limited spots available, first come first served. Let us journey together toward the sustainable covenant! [Click to register]<br><br>Wall Street institution <b>Baird</b> upgraded <b>Bank of America</b> (<b>BAC</b>) shares to Outperform from Neutral on Thursday, while maintaining a price target of $62. 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Nobel Prize and Turing Award winners will take the stage to discuss the future and trends of technology, and the internet-famous professor who \"rescues\" people from anxiety and the era of involution — Macfarlane — will hold a live dialogue with Xiang Biao!Limited spots available, first come first served. Let us journey together toward the sustainable covenant! [Click to register]Wall Street institution Baird upgraded Bank of America (BAC) shares to Outperform from Neutral on Thursday, while maintaining a price target of $62. Compared with the stock's closing price of $51 on Wednesday, the target price implies upside of 21%.Even though Bank of America reported weak quarterly results before the market open on Thursday, the investment bank still raised its rating on the lender. 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