Apr. 13--Bank of America Corp. shares are set to close above $10 for the first time since Jan. 14, when news leaked of the bank's need for a second government rescue package.

The Charlotte bank's shares closed at $11.02, up 15% from Friday's close. Bank stocks fared better today than the broader market as investors appear to be buoyed by Wells Fargo's disclosure last week that it expects a record first-quarter profit. Citigroup Inc. shares are up more than 17 percent today to $3.56.

Analyst Nancy Bush of NAB Research, however, isn't expecting Bank of America's shares to shoot much higher. She lowered her rating on the stock today to a "hold" from a "buy," saying $10 and "perhaps as high as $12" is an "appropriate price for this stock" based on its projected earnings.

Bank of America is scheduled to report first-quarter earnings next week.

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