Bank of America Corp Sees Stock Price Recovery
Bank of America Corp’s stock price has experienced a significant increase following a decline in April. The company’s analysts have revised their forecast for the S&P 500 index, citing the resilience of US companies in maintaining profit projections.
S&P 500 Index Forecast
The analysts have raised their forecast for the S&P 500 index, with a 12-month target set at 6,600. This forecast is based on the resilience of US companies in maintaining profit projections despite uncertainty surrounding trade policies.
Kuwait’s Investment Authority Sells Stake
Kuwait’s investment authority has sold a substantial stake in Bank of America Corp, worth $3.1 billion, at a price of $47.95 per share.
Upcoming Q2 Results
The company is expected to report higher earnings in its upcoming Q2 results, with consensus estimates pointing to a 5.5% year-over-year revenue increase and a 4.6% increase in earnings per share.
Key Statistics
- 12-month target for the S&P 500 index: 6,600
- Stake sold by Kuwait’s investment authority: $3.1 billion
- Price per share: $47.95