BAC BANK OF AMERICA CORP /DE/
Price Chart
Executive Summary
Morgan Stanley upgraded Bank of America (BAC) to Overweight from Equal-Weight while cutting its price target to $47 from $56 — now the lowest among 23 analysts. The call is part of a 17-firm analyst cluster on BAC on April 7, 2025. Despite the positive rating shift, the new PT implies 12% downside from the current $53.46, versus the consensus mean of $62.93 (+17.7% upside). Morgan Stanley has a 67% accuracy rate on 15 prior BAC calls (top tier among covering firms). The broader consensus is heavily bullish: 84% Buy (26 of 31 analysts), 0% Sell. Insider selling has been heavy — over $20M in sales by five top executives in March. Institutional signals are mixed: Norges Bank opened a $4.77B position, but Dodge & Cox, Renaissance Technologies, and Duquesne Family Office exited or nearly exited. Short interest sits at 56.1% of float, signaling elevated bearish bets. This rare upgrade-with-PT-cut from a high-accuracy firm creates a sharp divergence vs consensus. EPS estimates are trending higher (14 upward revisions for FY2025), but the stock faces headwinds from insider selling and high short interest. Bottom line: the upgrade carries weight due to Morgan Stanley's track record, but the aggressive PT cut demands caution.
Impact Score
Consensus & Targets
Of 31 analysts covering BAC, 6 rate it Strong Buy, 20 Buy, and 5 Hold. That is 84% Buy (26 of 31) and 16% Hold. No Sell ratings. The consensus is overwhelmingly bullish, and Morgan Stanley's upgrade aligns with that direction, though its price target is a stark outlier.
Consensus price targets: mean $62.93, median $62.00, high $71.00, low $57.50. BAC trades at $53.46, implying 17.7% upside to the mean. Morgan Stanley's PT of $47.00 sits 25% below the mean and 18% below the next-lowest target of $57.50, implying 12.1% downside. This is the most bearish target among all analysts.
Recent Analyst Activity
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| 2026-04-16 | Piper Sandler | maintain | Neutral | $59.00 |
| 2026-04-16 | Oppenheimer | maintain | Outperform | $61.00 |
| 2026-04-16 | Evercore ISI Group | maintain | Outperform | $61.00 |
| 2026-04-16 | Truist Securities | maintain | Buy | $61.00 |
| 2026-04-16 | RBC Capital | reiterate | Outperform | $59.00 |
| 2026-04-16 | Keefe, Bruyette & Woods | maintain | Outperform | $64.00 |
| 2026-04-07 | JP Morgan | maintain | Overweight | $57.50 |
| 2026-04-06 | Evercore ISI Group | maintain | Outperform | $55.00 |
| 2026-03-27 | Oppenheimer | maintain | Outperform | $58.00 |
| 2026-03-26 | Jefferies | initiate | Buy | $60.00 |
No analyst upgrades or downgrades in the past 30 days. However, EPS estimate revisions are positive: current quarter (Q2 2025) estimates up 0.7% over 30 days, full-year 2025 up 2.6%, and next fiscal year up 1.3%. 14 upward revisions for the current fiscal year vs 0 down. Estimates are trending higher, supporting the bullish consensus.
Firm Track Record — Morgan Stanley
Morgan Stanley accuracy: 55% on 4993 calls | avg return: 4.3%
Industry benchmark: mean 51% ± 11%. Top tier: ≥61% (mean + 1σ). Based on 15 firms with ≥5 scored calls.
| Firm | Accuracy | Calls | Avg Return | vs Average |
|---|---|---|---|---|
| Citigroup | 100% | 5/5 | 7.4% | top tier |
| Oppenheimer | 79% | 11/14 | 6.2% | top tier |
| Wells Fargo | 75% | 3/4 | 3.5% | top tier |
| RBC Capital | 75% | 3/4 | 11.7% | top tier |
| Morgan Stanley | 67% | 10/15 | 2.4% | top tier |
| JP Morgan | 67% | 2/3 | 9.7% | top tier |
| Barclays | 60% | 3/5 | 2.6% | above average |
| Truist Securities | 57% | 4/7 | 4.1% | above average |
| Evercore ISI Group | 56% | 5/9 | 2.3% | above average |
| Keefe, Bruyette & Woods | 50% | 4/8 | 3.8% | below average |
On BAC specifically, Morgan Stanley has a 67% accuracy rate (10 correct of 15 calls), ranking as top tier among covering firms. The best BAC analysts by accuracy are Citigroup (100% on 5 calls) and Oppenheimer (79% on 14 calls). The weakest is Piper Sandler (29% on 7 calls, average return -0.3%). Morgan Stanley's overall firm-wide accuracy is 55% on 4,993 calls with an average return of 4.3%.
Earnings Estimates
Next earnings: Jul 14, 2026
| Period | EPS Est. | EPS Range | Revenue | Revisions (7d) |
|---|---|---|---|---|
| 0q | $1.09 | $1.06 — $1.12 | $30.0B | ↑1 ↓0 |
| +1q | $1.13 | $1.06 — $1.17 | $30.3B | ↑0 ↓0 |
| +1y | $5.03 | $4.79 — $5.25 | $126.8B | ↑2 ↓0 |
| 0y | $4.47 | $4.38 — $4.65 | $121.0B | ↑0 ↓0 |
Cross-Platform Signals
Insider trading is a red flag: five top executives sold over $20M worth of BAC stock in March, including Dean Athanasia ($6.9M) and James DeMare ($4.2M). Institutional activity is split: Norges Bank opened a massive $4.77B new position, but several prominent funds (Dodge & Cox -86.9%, Two Sigma -91.8%, Renaissance, Duquesne) exited or nearly exited. Short interest is elevated at 56.1% of float — this is a unusually high bearish bet. The analyst upgrade from a high-accuracy firm diverges from insider selling and short interest, creating a mixed setup.
Actionable Insight
The upgrade from a top-tier firm signals potential value, but the aggressive PT cut, insider selling, and high short interest counsel caution. Wait for earnings on July 14 for confirmation; a short squeeze is possible if fundamentals deliver, but the risk of further downside remains elevated given the PT disparity.
Documents Analyzed
Report based on filing metadata.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
May 31, 2026
5d ago
|
ANALYST-UPGRADE
| $35.56 $36.66 | ▲ +3.09% | ▼ −3.78% | $53.83 (+51.39%) |
|
May 15, 2026
21d ago
|
Court Ruling
| $49.76 $51.80 | ▲ +4.10% | ▲ +3.14% | $53.83 (+8.19%) |
|
May 14, 2026
22d ago
|
Court Ruling
| $49.90 $51.46 | ▲ +3.12% | ▲ +3.84% | $53.83 (+7.88%) |
|
May 1, 2026
5w ago
|
ANALYST-UPGRADE
| $35.56 $36.66 | ▲ +3.09% | ▼ −3.78% | $53.83 (+51.39%) |
|
Apr 13, 2026
7w ago
|
Court Ruling
| $53.33 $53.94 | ▲ +1.14% | ▼ −2.15% | $53.83 (+0.94%) |
|
Mar 30, 2026
9w ago
|
Court Ruling
| $47.22 $50.29 | ▲ +6.50% | ▲ +2.20% | $53.83 (+14.01%) |
|
Mar 30, 2026
9w ago
|
Court Ruling
| $47.22 $50.29 | ▲ +6.50% | ▲ +2.20% | $53.83 (+14.01%) |
|
Mar 23, 2026
10w ago
|
DEFA14A
| $47.51 $47.22 | ▼ −0.61% | ▲ +2.95% | $53.83 (+13.31%) |
|
Mar 5, 2026
13w ago
|
Insider Cluster
| $49.78 $47.11 | ▼ −5.37% | ▼ −3.13% | $53.83 (+8.14%) |
|
Mar 3, 2026
13w ago
|
Insider Cluster
| $49.97 $48.56 | ▼ −2.82% | ▼ −2.35% | $53.83 (+7.73%) |
US Market Status
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