The company was downgraded by Evercore ISI target price at Bank of America (BAC) to $51 from $53 and maintains an outperform rating on the stock. BofA “rounded out 2024 with a decent quarter and a good outlook for 2025 with consistent, characteristic revenue growth,” although this was coupled with “less characteristic expense growth,” which the company believes sent shares slightly lower while peers rose, analyst tells investors. The company cut its FY25 EPS view to $3.60 from $3.81 and 2026 EPS to $4.52 from $4.78 as it now expects more spending pressure than previously expected.
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