Bank of America stock has come roaring back from the brink, and over the past 12 months is up a whopping 65%, substantially outpacing both the S&P 500 and most bank stocks as well over the same time period. Many analysts also have a buy rating on the stock. Is the stock cheap here, or will it pause to consolidate it gains? I must state from the outset that I and family members have long held positions in Bank of America stock. We are currently in litigation with Bank of America relating to the 2008 merger transaction with Merrill Lynch.
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