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

|About: Bank of America Corporation (BAC)|By:, SA News Editor

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.