MBIA's shares were up 12% to close at $8.08. Please see TheStreet's extensive coverage for more on the BAC/MBIA conflict, the bond amendment, and the trading implications for investors.
Stifel Nicolaus analyst Christopher Mutascio on Monday upgraded Bank of America to a "Buy" rating, with a price target for the shares of $11, saying that because of cost cuts, the company will see much greater earnings growth in 2014 than the other money center banks.
Mutascio estimates that Bank of America will earn 92 cents a share in 2013, followed by EPS of $1.20 in 2014.
Email. Follow @PhilipvanDoorn
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts