Evercore ISI lowered the firm’s price goal on Bank of America (BAC) to $51 from $53 and keeps an Outperform rating on the shares. BofA “rounded out 2024 with an honest quarter and powerful 2025 outlook featuring characteristic regular revenue growth,” though this was coupled with “less characteristic expense growth,” which the firm thinks sent shares barely lower while peers rose, the analyst tells investors. The firm lowered its FY25 EPS view to $3.60 from $3.81 and 2026 EPS to $4.52 from $4.78 because it now expects more expense pressure than previously anticipated.

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