Several bullish analyst recommendations on Bank of America Corp. lifted bank stocks across the board Monday.

The KBW Bank Index rose 7.53%, after Goldman Sachs analysts upgraded B of A's stock, recommending that investors buy the Charlotte, N.C. company's shares. Anthony Polini, an analyst with Raymond James & Associates, also "strongly recommended" B of A as well as the shares of Wells Fargo & Co., due to better-than expected stress test results and the companies' very low price-to earnings ratios on core earnings-per-share power.

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