Why Are Bank Of America Shares Rising Tuesday?

Bank of America Corporation (NYSE:BAHTTPS, NYSE:BAC) shares rose on Tuesday after Piper Sandler upgraded the stock from Underweight to Neutral and raised its price target from $37 to $42.

More On Analyst Ratings Changes: This Bank of America Analyst Is No Longer Bearish; Here Are Top 5 Upgrades For Tuesday

What Else: Moreover, a potential rule change by the U.S. Federal Reserve concerning the GSIB surcharge could save major banks, billions in capital. This prospective reduction in capital requirements would enable banks to reinvest more capital into the economy through lending.

Bank of America is set to release its second-quarter 2024 financial results on July 16.

BAC Price Action: Bank Of America Shares were up by 2.65% at $41.70 at the time of writing, according to Benzinga Pro.

See Also: Why Boeing’s Shares Are Flying Lower On Tuesday

Photo Courtesy: Tero Vesalainen On Shutterstock.