The decline in interest income is a common denominator despite the positive performance.The Q2 earnings season kicked off with a bang, with most major banks exceeding analyst expectations for both earnings per share and revenue. This positive performance has the potential to extend the sector's upward trend.
This 7% jump extended the stock's upward trend. However, a potential correction may be brewing, with the first price target around $61 supported by the upward trend line. In the case of BofA, the potential for a continuation of the northward movement is also maintained, and implies an approach at least in the vicinity of $52, which would mean breaking out of new historical maximums.Analysts see continued upside for BofA, with a potential climb toward $52, which would break new historical highs. The fair value index also supports this bullish outlook.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Investingcom - 🏆 450. / 53 Read more »
Source: Investingcom - 🏆 450. / 53 Read more »
Source: Investingcom - 🏆 450. / 53 Read more »