Morgan Stanley analyst Betsy Graseck lowered the firm’s price target on Bank of America (BAC) to $54 from $55 and keeps an Equal Weight rating on the shares. The firm’s Q4 EPS estimate is median 2% above consensus for the large cap bank group as the firm expects capital markets beats in the quarter, positive commentary on 2025 pipelines and the benefit of a steeper curve to drive up 2025 guidance. The firm also notes that its 2025 EPS median estimate for the group is 4% above the Street view.
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