Bank of America Securities
BofA Securities, Inc.
BofA Securities is the New York-based investment banking and capital markets arm of Bank of America, formed from the combination with Merrill Lynch. Its research division, BofA Global Research, covered about 3,500 stocks and more than 1,300 credits as of December 2025.
Company history
Bank of America agreed to buy Merrill Lynch, founded in 1914, in September 2008 and completed the deal on January 1, 2009, combining it with its own investment banking unit, Banc of America Securities. The merged corporate and investment bank operated as Bank of America Merrill Lynch until 2019, when the investment bank was rebranded BofA Securities, its research arm became BofA Global Research, and the wealth business became Merrill.
- 1914Merrill Lynch founded
- 1998Banc of America Securities becomes Bank of America's investment bank
- 2009Bank of America completes acquisition of Merrill Lynch
- 2019Investment bank rebranded BofA Securities; research becomes BofA Global Research
Research
Candace Browning heads BofA Global Research. It tied with Morgan Stanley for second in Extel's 2025 All-America Research Team survey and ranked second in Extel's 2025 global equity research leaders table. Each stock carries a volatility risk rating (A-C), an income rating and an investment rating of Buy (12-month total return of at least 10%), Neutral or Underperform.
Coverage12M
- Stocks
- 816
- Ratings
- 1,468
- Price targets
- 1
- Median upside
- +13.4%
- Upgrades
- 138
- Downgrades
- 126
- Initiations
- 13
- Reiterations
- 1,191
- Targets raised
- 1
- Targets cut
- 0
- Positive58%470
- Neutral26%216
- Negative16%130
Sectors
Ratings
Listing
Activity24M
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 AAPLApple Inc. | Buy | $256 |
 PGRThe Progressive Corporation | Buy | $309 |
 HIMSHims & Hers Health, Inc. | Neutral | $25 |
 NVDANVIDIA Corporation | Buy | $190 |
 AMDAdvanced Micro Devices, Inc. | Buy | $180 |
 STXSeagate Technology Holdings plc | Buy | $130 |
 CVNACarvana Co. | Neutral | $210 |
 AMZNAmazon.com, Inc. | Buy | $210 |
 CSXCSX Corporation | Buy | $38 |
 JBHTJ.B. Hunt Transport Services, Inc. | Buy | $195 |
Analysts24M
- Jean Ann SalisburyCVX · DK · CQP18
- Joshua ShankerALL · CB · AJG12
- Vivek AryaCDNS · COHR · AVGO8
- Justin PostGOOGL · CART · META7
- Sara SenatoreDNUT · DPZ · MCD5
- Steve ByrneCF · CTVA · EMN5
Recent actions
| Stock | Rating action | Rating | Date |
|---|---|---|---|
| RXRxSight, Inc.RXST | Reiterate | Underperform | Sep 22 |
| EGEldorado Gold CorporationEGO | Upgrade | Underperform →Buy | Sep 22 |
 MongoDB, Inc.MDB | Reiterate | Buy | Sep 21 |
 Agios Pharmaceuticals, Inc.AGIO | Reiterate | Buy | Sep 21 |
| KRKrystal Biotech, Inc.KRYS | Reiterate | Buy | Sep 21 |
| XNXencor, Inc.XNCR | Reiterate | Neutral | Sep 21 |
| BKBlack Hills CorporationBKH | Reiterate | Buy | Sep 21 |
| CACandel Therapeutics, Inc.CADL | Upgrade | Neutral →Buy | Sep 21 |
 Revolution Medicines, Inc.RVMD | Reiterate | Buy | Sep 21 |
| THThor Industries, Inc.THO | Reiterate | Buy | Sep 21 |
 HubSpot, Inc.HUBS | Reiterate | Underperform | Sep 18 |
 Tradeweb Markets Inc.TW | Reiterate | Buy | Sep 18 |
Similar coverage12M
References
- Award Winning Global Research & Data Driven Insights (BofA)business.bofa.com
- BofA Global Research Forecasts Stronger-than-Expected Economic Growth in 2026 (Dec 2025)newsroom.bankofamerica.com
- J.P. Morgan Stays Top of Extel's All-America Equities Research Table (Extel, 2025)einpresswire.com
- J.P. Morgan Extends Global Research Leader Winning Streak (Extel, Dec 2025)einpresswire.com
- Bank of America - Wikipediaen.wikipedia.org
- BofA Global Research report with fundamental equity opinion key (2024)s3.amazonaws.com