Daiwa Securities Cuts Bank of America Price Target

Brokerage firm reduces BAC's price target from $62 to $58 amid analyst rating changes.

Apr. 10, 2026 at 7:20am

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Daiwa Securities Group has lowered its price target for Bank of America (NYSE: BAC) stock from $62.00 to $58.00 in a new research report. The brokerage firm maintained its 'buy' rating on the financial services company's shares.

Why it matters

This price target reduction by a major investment firm signals potential headwinds for Bank of America's stock performance in the near-term, even as the company maintains a 'buy' recommendation. Analyst sentiment and price targets can significantly impact investor perceptions and trading activity around a stock.

The details

In the report, Daiwa Securities cited the reduced price target for Bank of America, though the firm kept its 'buy' rating on the stock. Other analysts have also recently adjusted their views on BAC, with TD Cowen lowering its price objective and Wolfe Research downgrading the stock to 'peer perform' from 'outperform'.

  • The Daiwa Securities report was released on Tuesday morning.

The players

Daiwa Securities Group

A major Japanese financial services firm that provides investment banking, securities, and asset management services globally.

Bank of America

A multinational financial services company headquartered in Charlotte, North Carolina that offers consumer banking, wealth management, and investment banking products and services.

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The takeaway

This price target reduction by Daiwa Securities highlights the ongoing volatility and uncertainty facing Bank of America's stock, as the company navigates a challenging economic environment and faces scrutiny from analysts. Investors will be closely watching for any further updates or changes to BAC's ratings and outlooks from Wall Street firms.