Todd Sullivan was recently a guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick.
Hedge Fund Manager and Rand Strategic Partners Founder Todd Sullivan discussed Bank of America Corp BAC on the show.
Sullivan felt that Bank of America Corp was "significantly cheaper to own" than JPMorgan Chase & Co. JPM and Bank of America's "litigation problems are largely behind it."
Sullivan looked for the stock to return to book value in the $22 to $23 range.
Other bank stocks, including JPMorgan, were trading above book value, making Bank of America's valuation more attractive, in Sullivan's view.
Warren Buffett's Berkshire Hathaway Inc. (NYSE: BRK-B) would also become a significant shareholder when it converts its warrants, Sullivan noted, which spoke to Buffett's confidence in the bank.
Bank of America recently traded at $15.56, up 0.32 percent.
Listen to the show here:
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