Freight Costs Force Bank of America to Cut Target Price on Off-Price
Published . Updated .
Higher freight costs in 2027 prompt Bank of America to cut price targets for TJX, Ross, and Burlington, yet "Buy" ratings remain.
Directly affected
- BAC Bank Of America-12.5% 30d
Named in this report.
Indirectly affected
- BWET Breakwave Tanker Shipping ETF+40.2% 19d
Breakwave Tanker Shipping ETF: it tracks shipping freight. Linked by “freight” (container shipping) in this story.
- IYT iShares U.S. Transportation ETF
iShares U.S. Transportation ETF: it tracks shipping freight. Linked by “freight” (container shipping) in this story.
- XLF Financial Select Sector SPDR-3.2% 30d
Financial Select Sector SPDR: it holds banks. Linked by “bank” (banks) in this story.
- JPM JPMorgan Chase-2.8% 30d
JPMorgan Chase (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “bank” (banks) in this story.
- ZIM ZIM Integrated Shipping Services+1.3% 30d
ZIM Integrated Shipping Services (deep sea foreign transportation of freight): shipping lines' rates jump when routes or ports are disrupted. Linked by “freight” (container shipping) in this story.
- WFC Wells Fargo-3.6% 30d
Wells Fargo (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “bank” (banks) in this story.
- C Citigroup-6.4% 30d
Citigroup (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “bank” (banks) in this story.
- MATX Matson-5.7% 9d
Matson (water transportation): shipping lines' rates jump when routes or ports are disrupted. Linked by “freight” (container shipping) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| BAC | +0.41% | -0.65% | base | +0.79% | after close | after close | after close |
| BWET | -0.47% | -0.47% | base | +4.09% | after close | after close | after close |
| IYT | +1.39% | -0.14% | base | +0.96% | after close | after close | after close |
| XLF | +0.96% | -0.14% | base | +1.38% | after close | after close | after close |
| JPM | -0.85% | -1.58% | base | +1.13% | after close | after close | after close |
| ZIM | -2.06% | -0.44% | base | -1.45% | after close | after close | after close |
| WFCNo price data for this ticker | — | — | — | — | — | — | — |
| C | -1.30% | -2.48% | base | +1.29% | after close | after close | after close |
| MATX | -0.28% | +0.49% | base | -0.60% | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Market Call
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Freight Costs Force Bank of America to Cut Target Price on Off-Price WWD
Source: WWD
How far Amplify Commodity Trust (BWET) has moved since 29 Oct 2026
| Company | When | Move | Status |
|---|---|---|---|
| Bank Of America (BAC) | that day | +0.79% | final price |
| Bank Of America (BAC) | three days earlier | -0.65% | final price |
| Bank Of America (BAC) | five days earlier | +0.41% | final price |
| Amplify Commodity Trust (BWET) | that day | +4.09% | final price |
| Amplify Commodity Trust (BWET) | three days earlier | -0.47% | final price |
| Amplify Commodity Trust (BWET) | five days earlier | -0.47% | final price |
| Citigroup (C) | that day | +1.29% | final price |
| Citigroup (C) | three days earlier | -2.48% | final price |
| Citigroup (C) | five days earlier | -1.30% | final price |
| Ishares Tr (IYT) | that day | +0.96% | final price |
| Ishares Tr (IYT) | three days earlier | -0.14% | final price |
| Ishares Tr (IYT) | five days earlier | +1.39% | final price |
| Jpmorgan Chase (JPM) | that day | +1.13% | final price |
| Jpmorgan Chase (JPM) | three days earlier | -1.58% | final price |
| Jpmorgan Chase (JPM) | five days earlier | -0.85% | final price |
| MATX | that day | -0.60% | final price |
| MATX | three days earlier | +0.49% | final price |
| MATX | five days earlier | -0.28% | final price |
| Select Sector Spdr Tr (XLF) | that day | +1.38% | final price |
| Select Sector Spdr Tr (XLF) | three days earlier | -0.14% | final price |
| Select Sector Spdr Tr (XLF) | five days earlier | +0.96% | final price |
| ZIM Integrated Shipping Services (ZIM) | that day | -1.45% | final price |
| ZIM Integrated Shipping Services (ZIM) | three days earlier | -0.44% | final price |
| ZIM Integrated Shipping Services (ZIM) | five days earlier | -2.06% | final price |
Congressional trades in the stocks in this story
- Rep. Rohit Khanna sold Bank Of America (BAC) (held by a spouse), worth $1,001 - $15,000 on 9 Sep 2026. That is 50 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Laurel Lee sold Bank Of America (BAC) (held by a spouse), worth $50,001 - $100,000 on 24 Aug 2026. That is 66 days before publication. Filed 16 Oct 2026. View the filing.
- Sen. Sheldon Whitehouse sold Jpmorgan Chase (JPM), worth $15,001 - $50,000 on 4 Sep 2026. That is 55 days before publication. Filed 1 Oct 2026. View the filing.
- Sen. Sheldon Whitehouse sold Jpmorgan Chase (JPM) (held by a spouse), worth $15,001 - $50,000 on 4 Sep 2026. That is 55 days before publication. Filed 1 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Jpmorgan Chase (JPM) (held by a spouse), worth $100,001 - $250,000 on 27 Aug 2026. That is 63 days before publication. Filed 4 Sep 2026. View the filing.
- Rep. Rohit Khanna bought Wells Fargo (WFC) (held by a spouse), worth $1,001 - $15,000 on 25 Sep 2026. That is 34 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Wells Fargo (WFC) (held by a dependent child), worth $15,001 - $50,000 on 17 Sep 2026. That is 42 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Wells Fargo (WFC) (held by a dependent child), worth $1,001 - $15,000 on 15 Sep 2026. That is 44 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Maria Elvira Salazar sold Citigroup (C), worth $1,001 - $15,000 on 24 Sep 2026. That is 35 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Citigroup (C) (held by a spouse), worth $1,001 - $15,000 on 4 Sep 2026. That is 55 days before publication. Filed 7 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who collects and who pays in shipping
Companies carried with this story
- BWET Amplify Commodity Trust
In “Freight Costs Force Bank of America to Cut Target Price on Off-Price,” Amplify Commodity Trust (BWET) is linked, with no stored direction, medium confidence. Reason on file: Breakwave Tanker Shipping ETF: it tracks shipping freight. Linked by “freight” (container shipping) in this story
- IYT Ishares Tr
Ishares Tr (IYT) is linked, with no stored direction, medium confidence in the 29 Oct 2026 story “Freight Costs Force Bank of America to Cut Target Price on Off-Price.” Reason on file: iShares U.S. Transportation ETF: it tracks shipping freight. Linked by “freight” (container shipping) in this story
- XLF Select Sector Spdr Tr
Select Sector Spdr Tr (XLF) is linked, with no stored direction, medium confidence in the 29 Oct 2026 story “Freight Costs Force Bank of America to Cut Target Price on Off-Price.” Reason on file: Financial Select Sector SPDR: it holds banks. Linked by “bank” (banks) in this story
- BAC Bank Of America
For “Freight Costs Force Bank of America to Cut Target Price on Off-Price,” Bank Of America (BAC) is linked, with no stored direction, medium confidence. Reason on file: Bank of America (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “bank” (banks) in this story
- JPM Jpmorgan Chase
For “Freight Costs Force Bank of America to Cut Target Price on Off-Price,” Jpmorgan Chase (JPM) is linked, with no stored direction, medium confidence. Reason on file: JPMorgan Chase (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “bank” (banks) in this story
- ZIM ZIM Integrated Shipping Services
In “Freight Costs Force Bank of America to Cut Target Price on Off-Price,” ZIM Integrated Shipping Services (ZIM) is linked, with no stored direction, medium confidence. Reason on file: ZIM Integrated Shipping Services (deep sea foreign transportation of freight): shipping lines' rates jump when routes or ports are disrupted. Linked by “freight” (container shipping) in this story
- WFC Wells Fargo
For “Freight Costs Force Bank of America to Cut Target Price on Off-Price,” Wells Fargo (WFC) is linked, with no stored direction, medium confidence. Reason on file: Wells Fargo (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “bank” (banks) in this story
- C Citigroup
For “Freight Costs Force Bank of America to Cut Target Price on Off-Price,” Citigroup (C) is linked, with no stored direction, medium confidence. Reason on file: Citigroup (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “bank” (banks) in this story
Amplify Commodity Trust (BWET) and the shipping link
Amplify Commodity Trust (BWET) is the company in “Freight Costs Force Bank of America to Cut Target Price on Off-Price,” the 29 Oct 2026 Shipping story.
For Amplify Commodity Trust (BWET), the reason on file says Breakwave Tanker Shipping ETF: it tracks shipping freight. Linked by “freight” (container shipping) in this story
Also listed, Ishares Tr (IYT): iShares U.S. Transportation ETF: it tracks shipping freight. Linked by “freight” (container shipping) in this story
What this shipping story puts on the calendar
BWET traded between 788.51 and 1047.07 across 17 sessions. The latest close on file is 907.20. XLF traded between 52.82 and 56.03 across 20 sessions. The latest close on file is 55.07.
A simple score for Amplify Commodity Trust (BWET)
46 out of 100
“Freight Costs Force Bank of America to Cut Target Price on Off-Price” scores 46 out of 100. The score uses 1 sources, and 8 linked companies.