Bank of America price target lowered to $49 from $50 at Piper Sandler

Piper Sandler analyst R. Scott Siefers lowered the firm’s price target on Bank of America (BAC) to $49 from $50 and keeps a Neutral rating on the shares following the Q4 report. The bank’s core results were better than anticipated thanks to better net interest income and credit costs than modeled, the analyst tells investors in a research note.