- Aprile 26, 2022
- Posted by: Oliver
- Categoria: Economics, Finance & accounting
Bank of America is a multinational investment bank and financial services holding company with interests in commercial banking, wealth management, and investment banking.
The financial major recently reported its first-quarter 2022 results, which exceeded both top and bottom-line expectations. Revenues for the quarter came in at $23.2 billion, up 1.8% year-over-year and above the consensus estimate of $23.11 billion. Earnings per share (EPS) for the quarter stood at $0.80, down 7% from the year-ago period. Yet, the figure surpassed the consensus estimate of $0.74 per share.
Recently, Cassidy reiterated a Buy rating on the stock with a price target of $51, which implies upside potential of 31.1% from current levels.
Cassidy has rated the stock a total of 48 times. The success rate of his Buy ratings stands at 59%. He has generated an average profit of 9.5% on the stock.
