1 Wall Street Analyst Thinks Bank of America Stock Is Going to $42. Is It a Buy?

Bank of America is rebounding from a post-earnings sell-off.Bank of America (BAC 0.90%) recently disappointed the market with its first-quarter earnings report as the stock fell 3.5% in a day. The nation's No. 2 bank by assets beat Wall Street estimates but reported a decline in net interest income due to higher deposit rates.Overall deposits were down 7%, and charge-offs were up 26% from the previous quarter to $1.5 billion. This shows that the bank's loan portfolio appears to be weakening. However, at lea ...