Bank of America’s Q3 Encourages Bulls

October 18, 2017
October 18, 2017 willgold100

Bank of America’s Q3 Encourages Bulls

Better revenue growth, visible operating leverage and manageable credit-cost increases will drive upside.

Credit Suisse

With Bank of America’s third-quarter upside, we’re raising our full-year 2017 earnings-per-share estimate to $1.81 from $1.77; our 2018 and 2019 EPS estimates are unchanged at $2.10 and $2.30 per share, respectively. Our target price is unchanged at $31.

We continue to recommend purchase of Bank of America (ticker: BAC) shares and are that much more encouraged in prospects for outperformance given year-to-date results. Better revenue growth, visible operating leverage and manageable credit-cost increases will drive realization of franchise value.  [We rate Bank of America at Outperform.]

See entire article here.

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