UBS analyst Brennan Hawken raised his target to $10 from $8, citing "lower tail risk." Tail risk refers to the risk of a highly unusual event such as a Euro breakup, throwing markets into panic mode.
However, Hawken lowered estimates for 2012 to $0.13 from $0.17 due to "moderated expense reduction expectations and the dilution from increased stock-based compensation." He maintained his "neutral" rating on the shares.
Deutsche Bank analyst Matt O'Connor, meanwhile, upped his target price to $9 from $7.5 while maintaining a "Hold" rating. O'Connor's report could not be obtained early Monday.Bank of America shares closed Friday at $9.57 and were set to open slightly lower on Monday. -- Written by Dan Freed in New York. Follow me on Twitter