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Stock analyst: Despite legal woes, BofA stock is strong

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According to one commentator with Seeking Alpha, with Bank of America’s (BAC) earnings projected to come out this week, investors need to look past the bank's legal troubles and instead focus on the strength and longevity of the stock.

I think my calculated value of $17.64 is likely a fair price for BAC shares given the company's bright prospects. I also feel the company will beat even its double-digit expected EPS growth rates as its cost-cutting initiatives are working wonderfully and the Countrywide business is going to begin producing profits again at some point. Finally, with tangible book value set to rise steadily for the foreseeable future, a floor should be put under the stock, providing some additional margin of safety for shareholders.

Source: Seeking Alpha
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