{
  "run": {
    "id": "cmnr12h8h02b2p658xexabxww",
    "region": "US",
    "assetId": "cmnr12h7v02ayp65856upvv43",
    "ticker": "BAC",
    "snapshotId": "cmnr12h8902b0p6588ojzisi3",
    "promptTemplateId": "cmnqt07si0005lm3jzpxuu1ux",
    "createdAt": "2026-04-09T05:19:45.855Z",
    "promptTemplate": {
      "id": "cmnqt07si0005lm3jzpxuu1ux",
      "name": "Oficial 08.apr.2026",
      "version": 1
    },
    "snapshot": {
      "id": "cmnr12h8902b0p6588ojzisi3",
      "assetId": "cmnr12h7v02ayp65856upvv43",
      "asOf": "2026-04-08T20:00:03.000Z",
      "snapshot": {
        "asOf": "2026-04-08T20:00:03.000Z",
        "quote": {
          "asOf": "2026-04-08T20:00:03.000Z",
          "open": null,
          "price": 51.88,
          "dayLow": 51.371,
          "volume": 29486154,
          "dayHigh": 52.26,
          "currency": "USD",
          "prevClose": 50.28,
          "week52Low": 33.07,
          "week52High": 57.55
        },
        "fundamentals": {
          "pe": 14.2487046632124,
          "beta": 0.967110190979243,
          "epsTTM": 3.86,
          "fcfTTM": 9951000000,
          "growth": {
            "epsYoy": 0.1876923076923077,
            "revenueYoy": 0.1100238499514168
          },
          "sector": "National Commercial Banks",
          "margins": {
            "net": 0.2697595869032777,
            "gross": null,
            "operating": null
          },
          "website": "http://www.bofasecurities.com/",
          "industry": "Financial services",
          "pegRatio": 0.759152297630171,
          "ebitdaTTM": 96849000000,
          "forwardPe": 12.7906976744186,
          "marketCap": 351903673230,
          "totalCash": 131322000000,
          "totalDebt": 295673000000,
          "debtEquity": 1.2066362620077,
          "quickRatio": null,
          "revenueTTM": 113097000000,
          "companyName": "BANK OF AMERICA CORP /DE/",
          "priceToBook": 1.36426727080262,
          "currentRatio": null,
          "dividendYield": 0.0195381002623853,
          "returnOnAssets": 0.01451238730650111,
          "returnOnEquity": 0.100609082485004,
          "analystOpinions": null,
          "businessSummary": "The Bank of America Corporation (Bank of America; often abbreviated BAC or BofA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina, with investment banking and auxiliary headquarters in Manhattan. The bank was founded by the merger of NationsBank and Bank of America in 1998. It is the second-largest banking institution in the United States and the second-largest bank in the world by market capitalization, both after JPMorgan Chase. Bank of America is one of the Big Four banking institutions of the United States, and one of eight systemically important financial institutions in the United States. It serves about 10 percent of all American bank deposits, in direct competition with JPMorgan Chase, Citigroup, and Wells Fargo. Its primary financial services revolve around comme…",
          "enterpriseValue": 751013500000,
          "analystTargetLow": null,
          "analystTargetHigh": null,
          "analystTargetMean": null,
          "fullTimeEmployees": 209000,
          "sharesOutstanding": 7176682170,
          "enterpriseToEbitda": 7.754478621359023,
          "analystTargetMedian": null,
          "enterpriseToRevenue": 6.640436970034572,
          "operatingCashflowTTM": 12613000000,
          "analystRecommendationKey": null
        }
      },
      "createdAt": "2026-04-09T05:19:45.849Z"
    },
    "results": [
      {
        "id": "cmnr12h8k02b4p658fw2vxom3",
        "runId": "cmnr12h8h02b2p658xexabxww",
        "modelId": "anthropic",
        "status": "SUCCESS",
        "rawOutput": "{\"model\":\"ai-equity-research-v1\",\"as_of\":\"2026-04-08T20:00:03.000Z\",\"ticker\":\"BAC\",\"currency\":\"USD\",\"current_price\":51.88,\"target_price_6m\":54.80,\"target_price_12m\":57.00,\"recommendation\":\"BUY\",\"confidence\":0.65,\"thesis_bullets\":[\"Attractive PEG of 0.76 signals undervaluation relative to earnings growth trajectory\",\"NII tailwinds persist as balance sheet reprices higher-yielding assets\",\"Forward P/E of 12.8x is below historical average for large-cap banks\",\"Capital return program supports floor via buybacks and 2% dividend yield\",\"Credit quality remains manageable but warrants monitoring through cycle\"],\"key_drivers\":[{\"driver\":\"Net interest income recovery from asset repricing\",\"impact\":\"HIGH\",\"direction\":\"POS\"},{\"driver\":\"EPS growth momentum at ~19% YoY\",\"impact\":\"HIGH\",\"direction\":\"POS\"},{\"driver\":\"Wealth management and advisory fee income growth\",\"impact\":\"MED\",\"direction\":\"POS\"},{\"driver\":\"Operating leverage from digital cost efficiencies\",\"impact\":\"MED\",\"direction\":\"POS\"},{\"driver\":\"Share buyback accretion to EPS\",\"impact\":\"MED\",\"direction\":\"POS\"},{\"driver\":\"Potential credit deterioration in consumer/CRE portfolios\",\"impact\":\"HIGH\",\"direction\":\"NEG\"},{\"driver\":\"Regulatory capital requirements (Basel III endgame)\",\"impact\":\"MED\",\"direction\":\"NEG\"},{\"driver\":\"Yield curve dynamics and Fed policy uncertainty\",\"impact\":\"MED\",\"direction\":\"NEG\"},{\"driver\":\"Investment banking revenue cyclicality\",\"impact\":\"LOW\",\"direction\":\"POS\"}],\"risks\":[\"Recession-driven credit losses could spike provisions materially\",\"Aggressive rate cuts would compress NII faster than expected\",\"CRE concentration risk in office/retail segments\",\"Regulatory capital surcharges limit capital return capacity\",\"Fintech competition eroding deposit franchise value\"],\"assumptions\":{\"revenue_cagr_3y\":0.05,\"ebit_margin_target\":0.28,\"wacc\":0.10,\"terminal_multiple\":13.5},\"scenarios\":{\"bear\":{\"target_price\":42.00,\"prob\":0.20,\"notes\":\"Recession drives credit losses higher, NII disappoints, P/E compresses to ~11x.\"},\"base\":{\"target_price\":57.00,\"prob\":0.55,\"notes\":\"Steady EPS growth to ~$4.25, P/E holds at ~13.5x, plus dividend support.\"},\"bull\":{\"target_price\":65.00,\"prob\":0.25,\"notes\":\"Benign credit, strong NII and fee growth push EPS above $4.50, re-rate to ~14.5x.\"}},\"method_notes\":\"Bank-focused earnings-power valuation: forward EPS ~$4.20-4.25 at normalized P/E 13-14x yields $57-59 base. P/B of 1.36x with ROE expanding toward 12% supports modest re-rating. ~10% price upside + ~2% dividend yield = ~12% total return, consistent with BUY. Assumptions labeled as revenue CAGR proxy (total revenue including NII), net margin target, cost of equity as WACC, and terminal P/E. Not investment advice.\"}",
        "parsedJson": {
          "as_of": "2026-04-08T20:00:03.000Z",
          "model": "ai-equity-research-v1",
          "risks": [
            "Recession-driven credit losses could spike provisions materially",
            "Aggressive rate cuts would compress NII faster than expected",
            "CRE concentration risk in office/retail segments",
            "Regulatory capital surcharges limit capital return capacity",
            "Fintech competition eroding deposit franchise value"
          ],
          "ticker": "BAC",
          "currency": "USD",
          "scenarios": {
            "base": {
              "prob": 0.55,
              "notes": "Steady EPS growth to ~$4.25, P/E holds at ~13.5x, plus dividend support.",
              "target_price": 57
            },
            "bear": {
              "prob": 0.2,
              "notes": "Recession drives credit losses higher, NII disappoints, P/E compresses to ~11x.",
              "target_price": 42
            },
            "bull": {
              "prob": 0.25,
              "notes": "Benign credit, strong NII and fee growth push EPS above $4.50, re-rate to ~14.5x.",
              "target_price": 65
            }
          },
          "confidence": 0.65,
          "assumptions": {
            "wacc": 0.1,
            "revenue_cagr_3y": 0.05,
            "terminal_multiple": 13.5,
            "ebit_margin_target": 0.28
          },
          "key_drivers": [
            {
              "driver": "Net interest income recovery from asset repricing",
              "impact": "HIGH",
              "direction": "POS"
            },
            {
              "driver": "EPS growth momentum at ~19% YoY",
              "impact": "HIGH",
              "direction": "POS"
            },
            {
              "driver": "Wealth management and advisory fee income growth",
              "impact": "MED",
              "direction": "POS"
            },
            {
              "driver": "Operating leverage from digital cost efficiencies",
              "impact": "MED",
              "direction": "POS"
            },
            {
              "driver": "Share buyback accretion to EPS",
              "impact": "MED",
              "direction": "POS"
            },
            {
              "driver": "Potential credit deterioration in consumer/CRE portfolios",
              "impact": "HIGH",
              "direction": "NEG"
            },
            {
              "driver": "Regulatory capital requirements (Basel III endgame)",
              "impact": "MED",
              "direction": "NEG"
            },
            {
              "driver": "Yield curve dynamics and Fed policy uncertainty",
              "impact": "MED",
              "direction": "NEG"
            },
            {
              "driver": "Investment banking revenue cyclicality",
              "impact": "LOW",
              "direction": "POS"
            }
          ],
          "method_notes": "Bank-focused earnings-power valuation: forward EPS ~$4.20-4.25 at normalized P/E 13-14x yields $57-59 base. P/B of 1.36x with ROE expanding toward 12% supports modest re-rating. ~10% price upside + ~2% dividend yield = ~12% total return, consistent with BUY. Assumptions labeled as revenue CAGR proxy (total revenue including NII), net margin target, cost of equity as WACC, and terminal P/E. Not investment advice.",
          "current_price": 51.88,
          "recommendation": "BUY",
          "thesis_bullets": [
            "Attractive PEG of 0.76 signals undervaluation relative to earnings growth trajectory",
            "NII tailwinds persist as balance sheet reprices higher-yielding assets",
            "Forward P/E of 12.8x is below historical average for large-cap banks",
            "Capital return program supports floor via buybacks and 2% dividend yield",
            "Credit quality remains manageable but warrants monitoring through cycle"
          ],
          "target_price_6m": 54.8,
          "target_price_12m": 57
        },
        "errorsJson": {
          "attempts": [],
          "providerMeta": {
            "provider": "anthropic",
            "webSearch": {
              "enabled": false,
              "maxToolCalls": 2,
              "disabledReason": null
            },
            "pauseTurns": 0,
            "stopReason": "end_turn"
          },
          "sanityIssues": []
        },
        "latencyMs": 48652,
        "createdAt": "2026-04-09T05:19:45.855Z",
        "usage": {
          "inputTokens": 3680,
          "outputTokens": 1594,
          "costUsd": 0.05825
        }
      },
      {
        "id": "cmnr12h8k02b7p658xpxsmb5n",
        "runId": "cmnr12h8h02b2p658xexabxww",
        "modelId": "deepseek.reasoner",
        "status": "SUCCESS",
        "rawOutput": "{\n  \"model\": \"EquityResearchAI_v1\",\n  \"as_of\": \"2026-04-08T20:00:03.000Z\",\n  \"ticker\": \"BAC\",\n  \"currency\": \"USD\",\n  \"current_price\": 51.88,\n  \"target_price_6m\": 52.5,\n  \"target_price_12m\": 54.21,\n  \"recommendation\": \"HOLD\",\n  \"confidence\": 0.65,\n  \"thesis_bullets\": [\n    \"Strong market position in US banking sector.\",\n    \"Revenue growth driven by economic factors.\",\n    \"Margin improvement from cost efficiencies.\",\n    \"Exposed to interest rate and regulatory risks.\",\n    \"Valuation appears fair with moderate upside.\"\n  ],\n  \"key_drivers\": [\n    { \"driver\": \"Interest Rate Changes\", \"impact\": \"HIGH\", \"direction\": \"POS\" },\n    { \"driver\": \"Economic Growth\", \"impact\": \"HIGH\", \"direction\": \"POS\" },\n    { \"driver\": \"Loan Demand\", \"impact\": \"MED\", \"direction\": \"POS\" },\n    { \"driver\": \"Credit Quality\", \"impact\": \"HIGH\", \"direction\": \"NEG\" },\n    { \"driver\": \"Regulatory Environment\", \"impact\": \"HIGH\", \"direction\": \"NEG\" },\n    { \"driver\": \"Operational Efficiency\", \"impact\": \"MED\", \"direction\": \"POS\" },\n    { \"driver\": \"Technological Adoption\", \"impact\": \"MED\", \"direction\": \"POS\" },\n    { \"driver\": \"Competitive Pressure\", \"impact\": \"MED\", \"direction\": \"NEG\" }\n  ],\n  \"risks\": [\n    \"Economic recession impacting loan performance.\",\n    \"Adverse interest rate movements.\",\n    \"Increased regulatory compliance costs.\",\n    \"Cybersecurity incidents.\",\n    \"Geopolitical tensions affecting operations.\"\n  ],\n  \"assumptions\": {\n    \"revenue_cagr_3y\": 0.05,\n    \"ebit_margin_target\": 0.3,\n    \"wacc\": 0.09,\n    \"terminal_multiple\": 1.4\n  },\n  \"scenarios\": {\n    \"bear\": { \"target_price\": 48.0, \"prob\": 0.2, \"notes\": \"Economic slowdown and rising defaults.\" },\n    \"base\": { \"target_price\": 54.21, \"prob\": 0.6, \"notes\": \"Steady growth and stable margins.\" },\n    \"bull\": { \"target_price\": 60.0, \"prob\": 0.2, \"notes\": \"Strong economic recovery and efficiency gains.\" }\n  },\n  \"method_notes\": \"Valuation based on forward P/E and EPS growth. HOLD due to fair valuation and balanced risks. Not investment advice.\"\n}",
        "parsedJson": {
          "as_of": "2026-04-08T20:00:03.000Z",
          "model": "EquityResearchAI_v1",
          "risks": [
            "Economic recession impacting loan performance.",
            "Adverse interest rate movements.",
            "Increased regulatory compliance costs.",
            "Cybersecurity incidents.",
            "Geopolitical tensions affecting operations."
          ],
          "ticker": "BAC",
          "currency": "USD",
          "scenarios": {
            "base": {
              "prob": 0.6,
              "notes": "Steady growth and stable margins.",
              "target_price": 54.21
            },
            "bear": {
              "prob": 0.2,
              "notes": "Economic slowdown and rising defaults.",
              "target_price": 48
            },
            "bull": {
              "prob": 0.2,
              "notes": "Strong economic recovery and efficiency gains.",
              "target_price": 60
            }
          },
          "confidence": 0.65,
          "assumptions": {
            "wacc": 0.09,
            "revenue_cagr_3y": 0.05,
            "terminal_multiple": 1.4,
            "ebit_margin_target": 0.3
          },
          "key_drivers": [
            {
              "driver": "Interest Rate Changes",
              "impact": "HIGH",
              "direction": "POS"
            },
            {
              "driver": "Economic Growth",
              "impact": "HIGH",
              "direction": "POS"
            },
            {
              "driver": "Loan Demand",
              "impact": "MED",
              "direction": "POS"
            },
            {
              "driver": "Credit Quality",
              "impact": "HIGH",
              "direction": "NEG"
            },
            {
              "driver": "Regulatory Environment",
              "impact": "HIGH",
              "direction": "NEG"
            },
            {
              "driver": "Operational Efficiency",
              "impact": "MED",
              "direction": "POS"
            },
            {
              "driver": "Technological Adoption",
              "impact": "MED",
              "direction": "POS"
            },
            {
              "driver": "Competitive Pressure",
              "impact": "MED",
              "direction": "NEG"
            }
          ],
          "method_notes": "Valuation based on forward P/E and EPS growth. HOLD due to fair valuation and balanced risks. Not investment advice.",
          "current_price": 51.88,
          "recommendation": "HOLD",
          "thesis_bullets": [
            "Strong market position in US banking sector.",
            "Revenue growth driven by economic factors.",
            "Margin improvement from cost efficiencies.",
            "Exposed to interest rate and regulatory risks.",
            "Valuation appears fair with moderate upside."
          ],
          "target_price_6m": 52.5,
          "target_price_12m": 54.21
        },
        "errorsJson": {
          "attempts": [
            {
              "error": "provider_error: terminated",
              "attempt": 0,
              "rawOutputTruncated": null
            }
          ],
          "providerMeta": {
            "endpoint": "https://api.deepseek.com/v1/chat/completions",
            "provider": "deepseek",
            "webSearch": {
              "enabled": false,
              "supported": false
            },
            "responseFormat": "json_object"
          },
          "sanityIssues": []
        },
        "latencyMs": 490,
        "createdAt": "2026-04-09T05:19:45.855Z",
        "usage": {
          "inputTokens": 2183,
          "outputTokens": 3509,
          "costUsd": 0.002085
        }
      },
      {
        "id": "cmnr12h8k02b5p6582nmktyqm",
        "runId": "cmnr12h8h02b2p658xexabxww",
        "modelId": "gemini.3-pro",
        "status": "SUCCESS",
        "rawOutput": "{\n  \"model\": \"AI Model Recommendation\",\n  \"as_of\": \"2026-04-08T20:00:03.000Z\",\n  \"ticker\": \"BAC\",\n  \"currency\": \"USD\",\n  \"current_price\": 51.88,\n  \"target_price_6m\": 55.00,\n  \"target_price_12m\": 57.00,\n  \"recommendation\": \"BUY\",\n  \"confidence\": 0.65,\n  \"thesis_bullets\": [\n    \"Solid 11% revenue growth and 18% EPS growth demonstrate strong operating leverage and franchise resilience.\",\n    \"Forward P/E of 12.8x and P/B of 1.36x offer reasonable valuation for a premium bank.\",\n    \"NIM stabilization is expected as deposit costs peak and asset yields gradually reprice higher.\",\n    \"Investment banking and wealth management provide diversified fee income against potential NII headwinds.\",\n    \"Credit quality remains resilient, though consumer charge-offs require close monitoring in a slowing economy.\"\n  ],\n  \"key_drivers\": [\n    {\n      \"driver\": \"Net Interest Margin (NIM) trajectory\",\n      \"impact\": \"HIGH\",\n      \"direction\": \"POS\"\n    },\n    {\n      \"driver\": \"Investment banking fee recovery\",\n      \"impact\": \"MED\",\n      \"direction\": \"POS\"\n    },\n    {\n      \"driver\": \"Credit loss provisions and net charge-offs\",\n      \"impact\": \"HIGH\",\n      \"direction\": \"NEG\"\n    },\n    {\n      \"driver\": \"Deposit beta and funding costs\",\n      \"impact\": \"MED\",\n      \"direction\": \"NEG\"\n    },\n    {\n      \"driver\": \"Operating leverage and expense management\",\n      \"impact\": \"MED\",\n      \"direction\": \"POS\"\n    },\n    {\n      \"driver\": \"Capital return via buybacks and dividends\",\n      \"impact\": \"LOW\",\n      \"direction\": \"POS\"\n    }\n  ],\n  \"risks\": [\n    \"Deterioration in the commercial real estate (CRE) portfolio leading to higher provisions.\",\n    \"Higher-for-longer interest rates driving deposit flight or elevated funding costs.\",\n    \"Regulatory capital requirement increases limiting share repurchases.\",\n    \"Macroeconomic recession leading to broad consumer credit deterioration.\"\n  ],\n  \"assumptions\": {\n    \"revenue_cagr_3y\": 0.04,\n    \"ebit_margin_target\": 0.35,\n    \"wacc\": 0.095,\n    \"terminal_multiple\": 12.0\n  },\n  \"scenarios\": {\n    \"bear\": {\n      \"target_price\": 45.00,\n      \"prob\": 0.25,\n      \"notes\": \"NIM compresses further and credit costs spike amid a mild recession.\"\n    },\n    \"base\": {\n      \"target_price\": 57.00,\n      \"prob\": 0.55,\n      \"notes\": \"Soft landing achieved, NIM stabilizes, and fee income grows steadily.\"\n    },\n    \"bull\": {\n      \"target_price\": 65.00,\n      \"prob\": 0.20,\n      \"notes\": \"Robust capital markets rebound and strong loan growth drive significant operating leverage.\"\n    }\n  },\n  \"method_notes\": \"Valuation based on a blend of P/E (12x forward) and P/B (1.4x) multiples, supported by a probability-weighted scenario analysis. The weighted target implies a ~7% return, aligning with a BUY rating. Not investment advice.\"\n}",
        "parsedJson": {
          "as_of": "2026-04-08T20:00:03.000Z",
          "model": "AI Model Recommendation",
          "risks": [
            "Deterioration in the commercial real estate (CRE) portfolio leading to higher provisions.",
            "Higher-for-longer interest rates driving deposit flight or elevated funding costs.",
            "Regulatory capital requirement increases limiting share repurchases.",
            "Macroeconomic recession leading to broad consumer credit deterioration."
          ],
          "ticker": "BAC",
          "currency": "USD",
          "scenarios": {
            "base": {
              "prob": 0.55,
              "notes": "Soft landing achieved, NIM stabilizes, and fee income grows steadily.",
              "target_price": 57
            },
            "bear": {
              "prob": 0.25,
              "notes": "NIM compresses further and credit costs spike amid a mild recession.",
              "target_price": 45
            },
            "bull": {
              "prob": 0.2,
              "notes": "Robust capital markets rebound and strong loan growth drive significant operating leverage.",
              "target_price": 65
            }
          },
          "confidence": 0.65,
          "assumptions": {
            "wacc": 0.095,
            "revenue_cagr_3y": 0.04,
            "terminal_multiple": 12,
            "ebit_margin_target": 0.35
          },
          "key_drivers": [
            {
              "driver": "Net Interest Margin (NIM) trajectory",
              "impact": "HIGH",
              "direction": "POS"
            },
            {
              "driver": "Investment banking fee recovery",
              "impact": "MED",
              "direction": "POS"
            },
            {
              "driver": "Credit loss provisions and net charge-offs",
              "impact": "HIGH",
              "direction": "NEG"
            },
            {
              "driver": "Deposit beta and funding costs",
              "impact": "MED",
              "direction": "NEG"
            },
            {
              "driver": "Operating leverage and expense management",
              "impact": "MED",
              "direction": "POS"
            },
            {
              "driver": "Capital return via buybacks and dividends",
              "impact": "LOW",
              "direction": "POS"
            }
          ],
          "method_notes": "Valuation based on a blend of P/E (12x forward) and P/B (1.4x) multiples, supported by a probability-weighted scenario analysis. The weighted target implies a ~7% return, aligning with a BUY rating. Not investment advice.",
          "current_price": 51.88,
          "recommendation": "BUY",
          "thesis_bullets": [
            "Solid 11% revenue growth and 18% EPS growth demonstrate strong operating leverage and franchise resilience.",
            "Forward P/E of 12.8x and P/B of 1.36x offer reasonable valuation for a premium bank.",
            "NIM stabilization is expected as deposit costs peak and asset yields gradually reprice higher.",
            "Investment banking and wealth management provide diversified fee income against potential NII headwinds.",
            "Credit quality remains resilient, though consumer charge-offs require close monitoring in a slowing economy."
          ],
          "target_price_6m": 55,
          "target_price_12m": 57
        },
        "errorsJson": {
          "attempts": [
            {
              "error": "sanity_error: buy_scenario_return_too_low: BUY requires >= 6% return from probability-weighted scenarios.",
              "attempt": 0,
              "rawOutputTruncated": "{\n  \"model\": \"AI Model Recommendation\",\n  \"as_of\": \"2026-04-08T20:00:03.000Z\",\n  \"ticker\": \"BAC\",\n  \"currency\": \"USD\",\n  \"current_price\": 51.88,\n  \"target_price_6m\": 54.00,\n  \"target_price_12m\": 56.00,\n  \"recommendation\": \"BUY\",\n  \"confidence\": 0.65,\n  \"thesis_bullets\": [\n    \"Solid 11% revenue growth and 18% EPS growth demonstrate strong operating leverage and franchise resilience.\",\n    \"Forward P/E of 12.8x and P/B of 1.36x offer reasonable valuation for a premium bank.\",\n    \"NIM stabilization is expected as deposit costs peak and asset yields gradually reprice higher.\",\n    \"Investment banking and wealth management provide diversified fee income against potential NII headwinds.\",\n    \"Credit quality remains resilient, though consumer charge-offs require close monitoring in a slowing economy.\"\n  ],\n  \"key_drivers\": [\n    {\n      \"driver\": \"Net Interest Margin (NIM) trajectory\",\n      \"impact\": \"HIGH\",\n      \"direction\": \"POS\"\n    },\n    {\n      \"driver\": \"Investment banking fee recovery\",\n      \"impact\": \"MED\",\n      \"direction\": \"POS\"\n    },\n    {\n      \"driver\": \"Credit loss provisions and net charge-offs\",\n      \"impact\": \"HIGH\",\n      \"direction\": \"NEG\"\n    },\n    {\n      \"…"
            }
          ],
          "providerMeta": {
            "model": "gemini-3-pro-preview",
            "provider": "gemini",
            "webSearch": {
              "used": false,
              "allowed": false,
              "enabled": false,
              "requested": false,
              "disabledReason": null
            }
          },
          "sanityIssues": []
        },
        "latencyMs": 18231,
        "createdAt": "2026-04-09T05:19:45.855Z",
        "usage": {
          "inputTokens": 3179,
          "outputTokens": 858,
          "costUsd": 0.016654
        }
      },
      {
        "id": "cmnr12h8k02b3p658c1zo929s",
        "runId": "cmnr12h8h02b2p658xexabxww",
        "modelId": "openai.gpt-5.4",
        "status": "SUCCESS",
        "rawOutput": "{\"model\":\"OpenAI o3\",\"as_of\":\"2026-04-08T20:00:03.000Z\",\"ticker\":\"BAC\",\"currency\":\"USD\",\"current_price\":51.88,\"target_price_6m\":54.3,\"target_price_12m\":56.5,\"recommendation\":\"BUY\",\"confidence\":0.64,\"thesis_bullets\":[\"Scale deposit franchise supports earnings through rate normalization.\",\"Forward valuation looks reasonable versus double-digit EPS and revenue growth.\",\"Fee businesses diversify weaker net interest income.\",\"Capital return should improve as regulatory clarity rises.\",\"Credit costs are manageable, but late-cycle deterioration caps upside.\"],\"key_drivers\":[{\"driver\":\"Deposit repricing tailwind\",\"impact\":\"HIGH\",\"direction\":\"POS\"},{\"driver\":\"Fed cuts and curve shape\",\"impact\":\"HIGH\",\"direction\":\"NEG\"},{\"driver\":\"Investment banking recovery\",\"impact\":\"MED\",\"direction\":\"POS\"},{\"driver\":\"Markets and trading activity\",\"impact\":\"MED\",\"direction\":\"POS\"},{\"driver\":\"Consumer credit quality\",\"impact\":\"HIGH\",\"direction\":\"NEG\"},{\"driver\":\"Expense discipline\",\"impact\":\"MED\",\"direction\":\"POS\"},{\"driver\":\"Basel capital clarity/buybacks\",\"impact\":\"MED\",\"direction\":\"POS\"},{\"driver\":\"Commercial real estate stress\",\"impact\":\"MED\",\"direction\":\"NEG\"}],\"risks\":[\"Faster rate cuts pressure NII.\",\"Card or CRE losses rise.\",\"Higher capital rules limit buybacks.\",\"Recession hurts fees and loan growth.\"],\"assumptions\":{\"revenue_cagr_3y\":0.045,\"ebit_margin_target\":0.31,\"wacc\":0.105,\"terminal_multiple\":1.45},\"scenarios\":{\"bear\":{\"target_price\":44,\"prob\":0.25,\"notes\":\"Sharper rate cuts and higher credit costs compress returns.\"},\"base\":{\"target_price\":56.5,\"prob\":0.5,\"notes\":\"Moderate fee growth offsets some NII pressure; capital return resumes.\"},\"bull\":{\"target_price\":64,\"prob\":0.25,\"notes\":\"Soft landing, stronger markets, and buybacks lift ROE and multiple.\"}},\"method_notes\":\"Used snapshot quote/fundamentals as authoritative. Valuation based on 12M earnings-power plus P/B cross-check; no sell-side price targets used. Base case implies ~9% price upside, consistent with BUY but tempered by NII and credit uncertainty; not investment advice.\"}",
        "parsedJson": {
          "as_of": "2026-04-08T20:00:03.000Z",
          "model": "OpenAI o3",
          "risks": [
            "Faster rate cuts pressure NII.",
            "Card or CRE losses rise.",
            "Higher capital rules limit buybacks.",
            "Recession hurts fees and loan growth."
          ],
          "ticker": "BAC",
          "currency": "USD",
          "scenarios": {
            "base": {
              "prob": 0.5,
              "notes": "Moderate fee growth offsets some NII pressure; capital return resumes.",
              "target_price": 56.5
            },
            "bear": {
              "prob": 0.25,
              "notes": "Sharper rate cuts and higher credit costs compress returns.",
              "target_price": 44
            },
            "bull": {
              "prob": 0.25,
              "notes": "Soft landing, stronger markets, and buybacks lift ROE and multiple.",
              "target_price": 64
            }
          },
          "confidence": 0.64,
          "assumptions": {
            "wacc": 0.105,
            "revenue_cagr_3y": 0.045,
            "terminal_multiple": 1.45,
            "ebit_margin_target": 0.31
          },
          "key_drivers": [
            {
              "driver": "Deposit repricing tailwind",
              "impact": "HIGH",
              "direction": "POS"
            },
            {
              "driver": "Fed cuts and curve shape",
              "impact": "HIGH",
              "direction": "NEG"
            },
            {
              "driver": "Investment banking recovery",
              "impact": "MED",
              "direction": "POS"
            },
            {
              "driver": "Markets and trading activity",
              "impact": "MED",
              "direction": "POS"
            },
            {
              "driver": "Consumer credit quality",
              "impact": "HIGH",
              "direction": "NEG"
            },
            {
              "driver": "Expense discipline",
              "impact": "MED",
              "direction": "POS"
            },
            {
              "driver": "Basel capital clarity/buybacks",
              "impact": "MED",
              "direction": "POS"
            },
            {
              "driver": "Commercial real estate stress",
              "impact": "MED",
              "direction": "NEG"
            }
          ],
          "method_notes": "Used snapshot quote/fundamentals as authoritative. Valuation based on 12M earnings-power plus P/B cross-check; no sell-side price targets used. Base case implies ~9% price upside, consistent with BUY but tempered by NII and credit uncertainty; not investment advice.",
          "current_price": 51.88,
          "recommendation": "BUY",
          "thesis_bullets": [
            "Scale deposit franchise supports earnings through rate normalization.",
            "Forward valuation looks reasonable versus double-digit EPS and revenue growth.",
            "Fee businesses diversify weaker net interest income.",
            "Capital return should improve as regulatory clarity rises.",
            "Credit costs are manageable, but late-cycle deterioration caps upside."
          ],
          "target_price_6m": 54.3,
          "target_price_12m": 56.5
        },
        "errorsJson": {
          "attempts": [],
          "providerMeta": {
            "provider": "openai",
            "webSearch": {
              "used": false,
              "enabled": false,
              "sources": [],
              "maxToolCalls": 2
            },
            "responseId": "resp_02bc74ecb4186ee70069d75657f2f48197a8bca0a145b099fb",
            "reasoningEffort": "medium",
            "structuredOutputs": {
              "used": true,
              "requested": true,
              "disabledReason": null
            }
          },
          "sanityIssues": []
        },
        "latencyMs": 36424,
        "createdAt": "2026-04-09T05:19:45.855Z",
        "usage": {
          "inputTokens": 2449,
          "outputTokens": 1991,
          "costUsd": 0.03216
        }
      },
      {
        "id": "cmnr12h8k02b6p658w98nlitj",
        "runId": "cmnr12h8h02b2p658xexabxww",
        "modelId": "xai.grok-4.20-reasoning",
        "status": "SUCCESS",
        "rawOutput": "{\n  \"model\": \"AI Equity Research Model\",\n  \"as_of\": \"2026-04-08T20:00:03.000Z\",\n  \"ticker\": \"BAC\",\n  \"currency\": \"USD\",\n  \"current_price\": 51.88,\n  \"target_price_6m\": 55.0,\n  \"target_price_12m\": 59.0,\n  \"recommendation\": \"BUY\",\n  \"confidence\": 0.62,\n  \"thesis_bullets\": [\n    \"19% YoY EPS growth shows resilient earnings power\",\n    \"1.36x P/B attractive versus ROE and peers\",\n    \"Strong capital supports buybacks and dividends\",\n    \"IB fee recovery adds non-interest revenue\",\n    \"Credit risks rise if economy slows sharply\"\n  ],\n  \"key_drivers\": [\n    {\n      \"driver\": \"Loan and deposit growth\",\n      \"impact\": \"HIGH\",\n      \"direction\": \"POS\"\n    },\n    {\n      \"driver\": \"Net interest income\",\n      \"impact\": \"HIGH\",\n      \"direction\": \"POS\"\n    },\n    {\n      \"driver\": \"Investment banking fees\",\n      \"impact\": \"MED\",\n      \"direction\": \"POS\"\n    },\n    {\n      \"driver\": \"Credit loss provisions\",\n      \"impact\": \"HIGH\",\n      \"direction\": \"NEG\"\n    },\n    {\n      \"driver\": \"Share repurchases\",\n      \"impact\": \"MED\",\n      \"direction\": \"POS\"\n    },\n    {\n      \"driver\": \"Economic conditions\",\n      \"impact\": \"HIGH\",\n      \"direction\": \"POS\"\n    },\n    {\n      \"driver\": \"Regulatory changes\",\n      \"impact\": \"MED\",\n      \"direction\": \"NEG\"\n    },\n    {\n      \"driver\": \"Interest rate volatility\",\n      \"impact\": \"MED\",\n      \"direction\": \"NEG\"\n    }\n  ],\n  \"risks\": [\n    \"Deep recession raising defaults\",\n    \"Faster rate cuts compressing NIM\",\n    \"Tighter capital rules capping returns\",\n    \"Geopolitical shocks to markets\",\n    \"Intensified competition from peers\"\n  ],\n  \"assumptions\": {\n    \"revenue_cagr_3y\": 0.065,\n    \"ebit_margin_target\": 0.33,\n    \"wacc\": 0.085,\n    \"terminal_multiple\": 12.5\n  },\n  \"scenarios\": {\n    \"bear\": {\n      \"target_price\": 43.0,\n      \"prob\": 0.25,\n      \"notes\": \"Recession drives elevated provisions and lower multiples.\"\n    },\n    \"base\": {\n      \"target_price\": 59.0,\n      \"prob\": 0.5,\n      \"notes\": \"Steady growth and stable economy support modest re-rating.\"\n    },\n    \"bull\": {\n      \"target_price\": 68.0,\n      \"prob\": 0.25,\n      \"notes\": \"Strong economy and fee income beat drive higher valuation.\"\n    }\n  },\n  \"method_notes\": \"Forward P/E and P/B comps plus simplified residual-income model using given assumptions. 14% 12M upside fits BUY rubric. Not investment advice.\"\n}",
        "parsedJson": {
          "as_of": "2026-04-08T20:00:03.000Z",
          "model": "AI Equity Research Model",
          "risks": [
            "Deep recession raising defaults",
            "Faster rate cuts compressing NIM",
            "Tighter capital rules capping returns",
            "Geopolitical shocks to markets",
            "Intensified competition from peers"
          ],
          "ticker": "BAC",
          "currency": "USD",
          "scenarios": {
            "base": {
              "prob": 0.5,
              "notes": "Steady growth and stable economy support modest re-rating.",
              "target_price": 59
            },
            "bear": {
              "prob": 0.25,
              "notes": "Recession drives elevated provisions and lower multiples.",
              "target_price": 43
            },
            "bull": {
              "prob": 0.25,
              "notes": "Strong economy and fee income beat drive higher valuation.",
              "target_price": 68
            }
          },
          "confidence": 0.62,
          "assumptions": {
            "wacc": 0.085,
            "revenue_cagr_3y": 0.065,
            "terminal_multiple": 12.5,
            "ebit_margin_target": 0.33
          },
          "key_drivers": [
            {
              "driver": "Loan and deposit growth",
              "impact": "HIGH",
              "direction": "POS"
            },
            {
              "driver": "Net interest income",
              "impact": "HIGH",
              "direction": "POS"
            },
            {
              "driver": "Investment banking fees",
              "impact": "MED",
              "direction": "POS"
            },
            {
              "driver": "Credit loss provisions",
              "impact": "HIGH",
              "direction": "NEG"
            },
            {
              "driver": "Share repurchases",
              "impact": "MED",
              "direction": "POS"
            },
            {
              "driver": "Economic conditions",
              "impact": "HIGH",
              "direction": "POS"
            },
            {
              "driver": "Regulatory changes",
              "impact": "MED",
              "direction": "NEG"
            },
            {
              "driver": "Interest rate volatility",
              "impact": "MED",
              "direction": "NEG"
            }
          ],
          "method_notes": "Forward P/E and P/B comps plus simplified residual-income model using given assumptions. 14% 12M upside fits BUY rubric. Not investment advice.",
          "current_price": 51.88,
          "recommendation": "BUY",
          "thesis_bullets": [
            "19% YoY EPS growth shows resilient earnings power",
            "1.36x P/B attractive versus ROE and peers",
            "Strong capital supports buybacks and dividends",
            "IB fee recovery adds non-interest revenue",
            "Credit risks rise if economy slows sharply"
          ],
          "target_price_6m": 55,
          "target_price_12m": 59
        },
        "errorsJson": {
          "attempts": [],
          "providerMeta": {
            "provider": "xai",
            "webSearch": {
              "used": false,
              "enabled": false,
              "sources": [],
              "maxToolCalls": 2
            },
            "responseId": "7dba73e0-4119-9210-9e28-cc217c39028e",
            "usedFallbackChatCompletions": false
          },
          "sanityIssues": []
        },
        "latencyMs": 19020,
        "createdAt": "2026-04-09T05:19:45.855Z",
        "usage": {
          "inputTokens": 2788,
          "outputTokens": 3557,
          "costUsd": 0.061719
        }
      }
    ]
  }
}