Bank of America Gains 22% Upside Forecast, Unveils Fee-Free Rewards Program
Bank of America secured buy ratings from 15 of 19 analysts with a median 1-year price target of $61.81, implying over 22% upside. The bank will launch its fee-free BofA Rewards program on May 27, offering members $150 to $4,000 in annual value.
1. Hedge Fund Sentiment
Bank of America ranks among the top 10 banking stocks favored by hedge funds, reflecting strong institutional confidence in its business model.
2. Analyst Ratings and Price Targets
Nineteen analysts cover the stock with 15 Buy and four Hold ratings. The consensus median 1-year price target stands at $61.81, implying over 22% upside, while J.P. Morgan recently raised its target to $61.50 with an Overweight rating.
3. BofA Rewards Program Launch
Starting May 27, the bank will roll out a fee-free loyalty program allowing clients to unlock $150 to $4,000 in annual value through credit card benefits, cash back deals and curated experiences across membership tiers.