Goldman Cuts Bank of America Price Target as April Earnings Near

Overview

• Goldman Sachs cut its Bank of America price target to $57 and kept a Buy rating, citing draft U.S. banking rules that could leave risk-weighted assets steady and trim required core capital by about $50 billion.
• Bank of America is set to report first‑quarter results in mid‑April, and Wall Street expects earnings of $0.99 per share.
• The bank has beaten profit estimates for four straight quarters, with last quarter’s $0.98 a share topping forecasts by 2.1%.
• Reuters reported that Bank of America settled a civil suit tied to Jeffrey Epstein; plaintiffs said the bank ignored suspicious payments, and the bank said it provided standard services and denied deeper involvement.
• Broader coverage shows a constructive view from Wall Street, with 27 analysts averaging a $61.14 target and a Moderate Buy tilt that reflects both earnings momentum and the outlook for lighter capital constraints.