Argus raises Bank of America target amid increased guidance for net interest income

Bank of America's net interest margin (NIM) will remain above 2.40% in the next quarterly earnings report, supporting the raised net interest income guidance from Argus

Bank of America's net interest income (NII) will increase by at least 8% year-over-year in Q3 2024 results, validating Argus' increased guidance assumptions

Bank of America (BAC) stock price will outperform the S&P 500 by at least 5% over the next 90 days following Argus' target price raise due to increased NII guidance expectations