Bank of America's potential net interest income trough opens an opportunity for top-line growth even though Warren Buffett slimmed his position in the stock.

Fintel reports that on November 8, 2024, Citigroup upgraded their outlook for Bank of America (NYSE:BAC) from Neutral to Buy. Analyst Price Forecast Suggests 4.81% Upside As of October 22, 2024, the average one-year price target for Bank of America is $46.

It is indeed interesting that Berkshire now holds $320 billion in cash vs just $272 billion in equity investments. Put another way, Buffett is holding more cash than stocks. "That’s a lot of firepower if markets see a sustained drop," notes Colas. "While Berkshire is not especially expensive, its multiple may be worrisome to a value investor ."

Warren Buffett is now sitting on more than $325 billion cash after continuing to unload billions of dollars worth of Apple and Bank of America shares this year and continuing to collect a steady strea

For the first time since 2018, Buffett’s company didn’t buy back any stock in the quarter, according to FactSet.