BUZZ-PREVIEW: Bank of America gains ahead of fourth-quarter earnings
Shares of Bank of America BAC.N, the second-biggest U.S. lender, rise 3.1% to $47.19, a day ahead of earnings, as upbeat results from peers boost confidence throughout the banking industry
BAC is set to report fourth-quarter earnings before markets open on Thursday
U.S. lender is expected to report Q4 profit of 77 cents per share vs 35 cents per share a year earlier, according to estimates compiled by LSEG
Investors will pay close attention to bank executives' commentary on net interest income
BAC's revenue is expected to jump ~14% to $25.19 bln in the quarter
Investment banking at peers such as JPMorgan Chase JPM.N, Citigroup C.N and Goldman Sachs GS.N has seen strong growth
20 of 25 analysts rate the stock "buy" or higher, 5 "hold"; their median PT is $52 — LSEG
BAC stock gained 30.5% in 2024
(Reporting by Prakhar Srivastava in Bengaluru)
((Prakhar.srivastava2@thomsonreuters.com))
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