Why Bank of America (BAC) Stock Is Up Today

NEW YORK (TheStreet) -- Shares of Bank of America  (BAC) rose 1.06% to $17.13 in morning trading Monday after Barron's reported the company's stock could rise 50% or more by 2017.

The site believes Bank of America's profits will soon start to fall to the bottom line after the bank pays $65 billion in fines, legal fees and other restitution. Barron's said earnings per share could hit $2 by 2017, compared to 75 cents this year.

"[S]hareholders by then will have seen a string of steady increases in both earnings and dividend payments, with fewer and smaller legal surprises," Barron's wrote. "They could be willing to pay $25 a share by that point, or 12.5 times earnings, versus a recent $17. Add a buck per share in cumulative dividends and BofA stock could return 50% over the next three years, and perhaps sooner."

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TheStreet Ratings team rates BANK OF AMERICA CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate BANK OF AMERICA CORP (BAC) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its expanding profit margins, notable return on equity and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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