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Bank of America (BAC) gains 1.4% in premarket trade after an upgrade to Buy with $16 price...

Bank of America (BAC) gains 1.4% in premarket trade after an upgrade to Buy with $16 price target (from $13) at Morgan Stanley. The team expects BofA to deliver on significant expense cuts over coming quarters while significant litigation risk largely evaporates by 2013's end.
Comments (3)
  • Morgan Stanley must have moved to Colorado. Even if BAC could win some of the largest suits, they'd get appealed. We are 2-3 years away from litigation finality. I Hope I'm wrong since I'm long BAC.
    23 Apr 2013, 09:30 AM Reply Like
  • Well My upgrade would be more along the lines of $18 a share based on dwindling legal concerns over the coming years. It's been a long battle, but light is at the end of the tunnel. Keeping out of the legal arena is another story going forward and left to be seen how it's handled by management.
    23 Apr 2013, 09:31 AM Reply Like
  • Good stock to own and participate in the turnaround!
    23 Apr 2013, 10:49 AM Reply Like
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