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 to "buy," from "neutral," recommending that investors buy the Charlotte company's shares with "conviction." Also, Anthony Polini, an analyst at Raymond James & Associates, "strongly recommended" the purchase of B of A stock, as well as the shares of Wells Fargo & Co., because of their 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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