Citi will hit $12 a share

T

turkeyneck

NEW YORK (MarketWatch) -- Rochdale Securities analyst Richard Bove initiated coverage on Citigroup Inc. Friday, issuing a buy recommendation on the beleaguered bank, and valued its shares 27% above their current price.

In a report to clients, Bove issued a price target of $4 a share for Citi /quotes/comstock/13*!c/quotes/nls/c (C 3.17, +0.04, +1.28%) , and estimated its stock to be worth $12 a share when earnings "normalize," he wrote.

http://www.marketwatch.com/story//citi-too-big-to-fail-will-hit-12-a-share-bove
 
I think in order for Citi to break out above $4, they at least got to have a chance of paying that TARP money back. I have not heard a whisper of this, so they will stay down here for now.
 
So you watched that dumb a$$ show "Fast Money" on CNBC? I clicked in for about 5 minutes, right when they were talking about C.

Some analyst upgraded it to a buy and predicted $12. One "Fast Money" entertainer said he didn't like C, but the others did. Win, win situation for CNBC I guess.

(I think C sucks, otherwise it wouldn't be trading as a penny stock... price action guys!)
 
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