Jim Cramer Believes Bank of America "Can Go Much Higher"

Bank of America Corporation (NYSE:BAC) is one of the stocks Jim Cramer put under the spotlight. Having owned the stock for the past 2 years, a caller asked if they should take their 65% profit or let it ride. In response, Cramer said:

“Let Bank of America ride. It’s very inexpensive. I think it can go much higher. I don’t think it’s going to be stuck at this level, and I like the way the financials trade very much. You’ll do well with Bank of America.”

Bank of America Corporation (NYSE:BAC) provides banking, lending, and investment services for individuals, businesses, and institutions. Cramer mentioned the company’s buyback program during the July 24 episode, as he commented:

“Now these aren’t flash. When Bank of America announced a $40 billion buyback the other day and nobody even notices, I regard that as a terrific sign. We want boring, we want no flash, we want gray flannel suits, and that’s just what we’re getting to fuel this rally. So yawn away, but be sure to do some buying.”

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Disclosure: None. This article is originally published at Insider Monkey.