Cramer Quick Take: Bank of America Can Hit $18
NEW YORK (TheStreet) -- Is Bank of America (BAC) finally worth owning?Jim Cramer told Debra Borchardt at TheStreet.com Monday he thinks the beleaguered bank can be owned as an investment but not as a trade.
Cramer said that finally being able to put its troubles behind it will be huge for Bank of America because its troubled merger with Countrywide almost killed the entire company. Add in a little revenue growth, he said, and all of the banks, not just Bank of America, can once again be valued like other stocks based on earnings.
Cramer said that banks like Wells Fargo (WFC) , a stock he owns for his charitable trust, Action Alerts PLUS, should never have fallen to $5 and $6 a share, which is why that stock has been able to run so far, so fast. Cramer said he's also been buying KeyCorp (KEY) .
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-- Written by Scott Rutt in Washington.
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