Jim Cramer's Stop Trading: Good Upgrade for Bank of America

NEW YORK (TheStreet) -- Shares of Bank of America (BAC)  started the week higher thanks to an upgrade from Goldman Sachs to buy from hold. 

"This is a very good upgrade," Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Cramer's Stop Trading" segment. 

Bank of America, an AAP holding, has settled its legal issues and CEO Brian Moynihan can go back to focusing on banking, not litigation, Cramer said. 

With interest rates remaining low, perhaps investors still aren't too excited about the stock, he said, but the settled litigation issues should be viewed as a positive.

-- Written by Bret Kenwell in Petoskey, Mich.

Follow @BretKenwell

At the time of publication, Cramer's Action Alerts PLUS had a position in BAC.

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