BUZZ-Street View: All eyes on BofA's ROTCE target at upcoming investor day
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Bank of America (BAC) reported a strong Q3 profit exceeding Wall Street expectations, driven by robust investment banking. The median price target from 26 brokerages is $57, indicating a 9% upside. Attention is on the upcoming investor day on Nov 5, focusing on the ROTCE target. J.P. Morgan and Barclays expect ROTCE to be a key topic, while Evercore ISI anticipates a credible path to achieving over 16% ROTCE. RBC Capital Markets notes consistent profit growth under current leadership.
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