BUZZ-Bank of America upgraded to 'buy' rating by HSBC, UBS

** HSBC and UBS upgrade their rating on shares of second-largest U.S. lender Bank of America BAC.N to "buy"

** HSBC raises PT to $50 from $45, a 10.1% upside to stock's last close; UBS raises PT to $53 from $43, a 16.7% upside to stock's last close

** UBS says BAC trades at a wide discount to peers JPMorgan JPM.N and Wells Fargo WFC.N, which appears to be unjustified

** Says that BAC is an underrated beneficiary of deregulation given it has the strongest inclination among U.S. large-cap banks to buy back stock

** Street is underestimating BAC's earnings per share power in a higher-for-longer rate environment - UBS

** HSBC says the recent pullback in bank stocks provides investors an opportunity to add exposure to a market leader with an attractive earnings and profitability outlook for the coming years

** Eighteen of 24 brokerages rate the stock "buy" or higher, six "hold"; median PT is $52 - LSEG data

** BAC stock rose 30.5% in 2024 vs a 32.8% jump in KBW Bank index .BKX

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))