Oppenheimer Upgrades BofA To Buy, Says Costs Are ‘Finite & Manageable’

Shares of Bank of America (BAC) were falling Thursday, a day after reporting a first-quarter loss tied to legal expenses, but Oppenheimer & Co. sees opportunity in the selloff. Analysts Chris Kotowski and Ben Chittenden boosted their rating on the stock to Outperform with a $19 price target. They note that they downgraded the stock [...]