Bank of America price target raised to $53 from $52 at Truist

Truist analyst John McDonald raised the firm’s price target on Bank of America (BAC) to $53 from $52 and keeps a Buy rating on the shares as part of a broader research note updating the firm’s models after the second day of big bank earnings. The main drivers of the firm’s upside revision for the company are a positive operating leverage with revenue growth of about 5% and expense growth of about 2.5%, the analyst tells investors in a research note, adding that in 2026, the firm estimates positive operating leverage expanding to about 370bps.