Cramer Sees BofA (BAC) Rallying Another 50%, or Maybe Even Doubling

Shares of Bank of America (NYSE: BAC) have popped over the $15.75 level in tonight's after-hours session following an especially bullish piece from Jim Cramer on his Mad Money show. He said the stock could rally another 50%, and "maybe even double".

Cramer touted the bank as "thee play" for those that believe the U.S. economy is now recovering. He admitted that BofA could have probably purchased both Countrywide and Merrill Lynch for practically nothing if management would have waited, but said that "we don't care" because Bank of America is now "too big not to buy" -- Cramer's clever play on "too big to fail". Cramer pointed out that there is rarely an opportunity when both a stock's chart and it's fundamentals line up, something that is now happen for BofA shareholders.



“The thesis is a turn in the economy,” Cramer said, “and I think perhaps the single best vehicle to play that turn right now is the Bank of America.”