Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 68 million consumer and small business clients with approximately 3,900 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 57 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE:BAC).

Bank of America Securities: Meta Platforms (NASDAQ:META) is on track to gain 12 million paid verified users

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Meta Platforms announced last weekend the launch of Meta Verified, a paid certified subscription service on Instagram and Facebook, for $11.99 per month. Research released Tuesday by Bank of America Securities reported that the new subscription service could gain nearly 12 million subscribers by 2024. Analysts believe Meta’s subscription service is meant to cater to celebrities and creators, not consumers. Analysts noted that considering the pricing of the newly launched subscription service, Meta could generate high-margin revenue of $1.7 billion in 2024. In addition, given a wider audience and more revenue opportunities for creators, analysts believe Meta is likely to outperform its peers in terms of subscribers as a percentage of users.

Bank of America Securities: Meta Platforms (NASDAQ:META) is on track to gain 12 million paid verified users Read Post »

Bank of America: Nvidia (NASDAQ:NVDA) will benefit from the generative AI race with a price increase to $255

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Bank of America analyst Vivek Arya raised its price target on Nvidia (NASDAQ:NVDA) to $255 from $215 and maintained a “buy” rating. Nvidia’s full-stack acceleration chips, systems, software and developers put it in a unique lead in the emerging generative artificial intelligence (AI) race, the analyst said. Bank of America’s new model predicts that NVIDIA’s sales and earnings per share will grow at compound annual growth rates of 25% and 34%, respectively, through 2027, as the adoption of generative AI triples the addressable market size for AI accelerators.

Bank of America: Nvidia (NASDAQ:NVDA) will benefit from the generative AI race with a price increase to $255 Read Post »

Bank of America: Raised Apple’s (NASDAQ:AAPL) price target to $158 with neutral rating

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Bank of America Securities issued a rating report saying that it is still concerned about the following points, including Apple’s (NASDAQ:AAPL) total revenue is lower than the bank and market expectations; We believe that there is no catalyst to drive the increase in demand; Weak end-market demand as customer confidence remains sluggish; iPad and Mac face tough year-over-year comparisons; and share buybacks lower than in previous quarters. The bank pointed out that even if the exchange rate is unfavorable and the macroeconomy is weak, the company’s profit margin is still strong; The bank lowered its revenue forecast for this year to $384 billion from $389 billion, raised its EPS estimate to $5.86 from $5.73 and raised its price target to $158 from $153, reiterating its neutral rating.

Bank of America: Raised Apple’s (NASDAQ:AAPL) price target to $158 with neutral rating Read Post »

Bank of America: Raised Alphabet (NASDAQ:GOOGL) price target to $125 with a buy rating

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Bank of America Securities released a report that Alphabet (NASDAQ:GOOGL) net income in the fourth quarter of last year was $63.1 billion, less than market expectations of $63.6 billion; Among them, YouTube revenue was worse than expected, further slowing down from 2% year-on-year in the third quarter to 8% year-on-year in the fourth quarter, mainly due to the further decline in advertising expenditure. Quarterly GAAP operating income and earnings per share were $18.2 billion and $1.05, respectively, also below market expectations of $18.6 billion and $1.18. The bank mentioned that although the group’s revenue was under pressure, the lower than expected cost of R&D and sales and marketing in the quarter, coupled with layoffs and lower server depreciation, could generate higher gross margin and stable earnings per share. Bank of America Securities raised its target price on Alphabet to $125 from $119 and maintained its buy rating.

Bank of America: Raised Alphabet (NASDAQ:GOOGL) price target to $125 with a buy rating Read Post »

Bank of America: Second half results may be stronger Reaffirms Qualcomm’s (NASDAQ:QCOM) “buy” rating

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Bank of America Securities analyst Tal Liani said Qualcomm’s (NASDAQ:QCOM) first-quarter results were expected, but market expectations were low and the environment would begin to improve. The analyst expects Qualcomm’s stronger results in the second half of the year and believes that expectations may have bottomed out. Given this, Liani reiterated a “buy” rating on the stock with a $150 price target.

Bank of America: Second half results may be stronger Reaffirms Qualcomm’s (NASDAQ:QCOM) “buy” rating Read Post »

Bank of America Securities: Upgraded Meta Platforms (NASDAQ:META) to Buy with a price target of $220

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Bank of America Securities said in a research report that it is cautious about the advertising environment and Meta Platforms (NASDAQ:META) this year, as the platform’s shift to Reels and capital spending could undermine EPS growth when the advertising market improves. Advertising revenue growth in the US accelerated in the fourth quarter, leverage and earnings per share are rising as the advertising environment improves, the competitive environment also improves, and the Group may become part of the artificial intelligence (AI)/machine learning (ML) improvement cycle following excess capital expenditures and GPU investments in 2022/23. The bank assumed that the global online advertising market accelerated, and that Meta could grow faster with AI/ML-assisted Reels monetization, raising its EPS estimate for the year by 13% to $9.82 from $8.72.

Bank of America Securities: Upgraded Meta Platforms (NASDAQ:META) to Buy with a price target of $220 Read Post »

Bank of America Securities: Lowered Pfizer (NYSE:PFE) price target to $50 with neutral rating

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Bank of America Securities released a research report saying that Pfizer’s (NYSE:PFE) guidance for this year’s results indicates that the company expects pandemic-related revenue to decline by more than 60%, resulting in total revenue falling about 30% from the middle of the guidance. The bank said that while it was not surprised by the slowdown in demand, the magnitude of the decline and profit margins affected EPS guidance. Non-COVID-related revenues were also weaker, partially offset by poor performance on the Ibrance and Eliquis franchises. The bank believes investors have been focusing on non-COVID-related businesses given the uncertainty surrounding growth prospects in the post-pandemic period. The report mentioned that Pfizer highlighted several upcoming products that may improve investor sentiment. However, the bank believes they are unlikely to ease growth concerns. The bank continues to be cautious about the group’s long-term growth prospects, with revenue expected to grow at a CAGR of

Bank of America Securities: Lowered Pfizer (NYSE:PFE) price target to $50 with neutral rating Read Post »

Bank of America Securities: Raised Alphabet (NASDAQ:GOOGL) price target to $119, rating buy

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Bank of America Securities reported that Alphabet (NASDAQ:GOOGL) is expected to have revenue of $63.6 billion in the fourth quarter of last year and GAAP earnings per share of $1.20, while lower interest income is still putting pressure on earnings per share, and that the company’s core profit margin in the fourth quarter of last year is expected to fall by 566 basis points year-on-year as the number of employees grows more than surveyed. The bank raised its revenue forecast for the year by 1% to $254.2 billion, up 8% year-on-year, EBITDA by 4% to $121 billion, and GAAP EPS by 3% to $5.4, and raised its price target to $119 from $116, reiterating its Buy rating.

Bank of America Securities: Raised Alphabet (NASDAQ:GOOGL) price target to $119, rating buy Read Post »

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