Is Bank of America Stock a Buy at $62? Here’s What Analysts Say

Key Takeaways for Bank of America Stock as of July 2026

• Revenue Reacceleration: Q2 revenue rose 19% YoY to $31.6B, the fastest since 2025.
• Operating Leverage Guide Raise: Management lifted its full-year operating leverage guide to 300-400bps from ~200bps, and raised full-year NII growth guidance to the top of a 6-8% range after Q2 NII grew 9% YoY.
• Margin Expansion: EBIT margins expanded 591bps YoY to 40.98%, pushing net income up 28% to $8.7B and adjusted EPS up 36% to $1.21.
• Expense Discipline: CEO Brian Moynihan said cost growth is “dropping the bottom line,” the reason Bank of America stock posted 36% EPS growth this quarter.

Bank of America stock sits at zero drawdown, yet TIKR’s model still sees more room to run. Compare the assumptions yourself on TIKR for free →

Bank of America’s Q2 Earnings Reset the Bar on Its Own Cost Discipline

Bank of America (BAC) generated 660 basis points of operating leverage in the second quarter of 2026, more than double the 200 to 300 basis point range management set as its multiyear steady state at Investor Day. That gap is why CFO Alastair Borthwick raised the full-year operating leverage guide to 300 to 400 basis points, just three months after calling for more than 200 basis points, and it is the clearest evidence yet that the bank’s scale is finally showing up on the bottom line.

CEO Brian Moynihan tied the acceleration directly to expense discipline on the Q2 earnings call: “If you look at the expense growth, it’s really related to the fee-based businesses and the rest of it is having a very rational amount of expense growth because of the efficiency measures and it’s dropping the bottom line, and that’s why the earnings growth was 30-plus percent EPS.” That restraint, not one-time trading gains alone, pushed EBIT up 39% year over year to $12.9 billion and lifted the EBIT margin to 40.98%, a 591 basis point jump from a year earlier.

Revenue climbed 19% to $31.6 billion, up 4% sequentially, while net income rose 28% to $8.7 billion. Adjusted EPS reached $1.21, up 36% from a year ago, and book value per share grew to $39.34, up 6% year over year. Return on tangible common equity hit 17% in the quarter, a level Moynihan said the bank expected to reach later than this.

Net interest income guidance moved right alongside it. Borthwick raised the full-year NII growth range from 5 to 7% in January to 6 to 8% in April, and the bank now expects growth at the top of that band, supported by loan and deposit growth, fixed rate asset repricing, and one anticipated 25 basis point rate hike in September.

That reacceleration isn’t unique to Bank of America. Citigroup (C) grew revenue 16% year over year in the same quarter and JPMorgan Chase (JPM) followed at 13%, both moving in the same direction as Bank of America’s own numbers, while Wells Fargo (WFC) lagged at 6%. That spread complicates the idea that operating leverage alone is driving the reprice, since peers are riding a comparable revenue upswing rather than watching Bank of America break away from the pack.

None of that growth required loosening underwriting standards. Provision expense held at $1.4 billion, unchanged from the first quarter, and nonperforming loans stayed near $5.8 billion. The operating leverage came from cost discipline and balance sheet growth, not credit risk-taking, which is exactly the combination that let 39% EBIT growth turn into 36% EPS growth without adding risk to the book.

Bank of America just raised its own operating leverage bar to 300 to 400 basis points. See how that flows through to EPS and ROTCE on TIKR for free →

Bank of America Stock Erases an 18% Drawdown as Analysts Lift Targets

Bank of America stock hit a maximum drawdown of 18% on March 13, 2026, and has since clawed all the way back to a 0.00% drawdown as of July 24.

The correction predated the operating leverage beat by four months, so the recovery reads less like a bet on a turnaround story and more like confirmation that the fundamentals caught up to where the stock had already been trading.

Fifteen analysts rate Bank of America stock a buy, five call it an outperform, four rate it a hold, and none recommend selling.

The mean price target sits at $68 against a $62 close, putting the average Wall Street view about 10% above the current price. Target prices have climbed every quarter since June 2025, when the mean sat at $50, tracking the same earnings momentum now showing up in the operating leverage guide.

TIKR Values Bank of America Stock at $76, Pricing In Sustained Operating Leverage

TIKR’s mid-case model values Bank of America at $76 by December 2030, implying a 23% total return from the current price of $62, or 5% annualized over 4.4 years.

A 5% annualized return is modest next to a quarter that just posted mid-30% EPS growth, positioning Bank of America stock as more of a steady compounder than a re-rating candidate from current levels.

The case holds because operating leverage above the low end of the bank’s own long-run range is already showing up in a 17% ROTCE, well ahead of the timeline Moynihan had set for the metric. If that leverage sustains even at the low end of the newly raised 300 to 400 basis point range, the earnings growth compounding into TIKR’s target becomes less a forecast and more an extension of results already on the tape.

TIKR’s model puts Bank of America stock on a path to $76. Run the assumptions against your own view of operating leverage on TIKR for free →

Should You Invest in Bank of America Corporation?

The only way to really know is to look at the numbers yourself. TIKR gives you free access to the same institutional-quality financial data that professional analysts use to answer exactly that question.

Pull up Bank of America Corporation stock and you’ll see years of historical financials, what Wall Street analysts expect for revenue and earnings in the quarters ahead, how valuation multiples have moved over time, and whether price targets are trending up or down.

You can build a free watchlist to track Bank of America Corporation alongside every other stock on your radar. No credit card required. Just the data you need to decide for yourself.

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Disclaimer:

Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!