Citi will hit $12 a share

Discussion in 'Stocks' started by turkeyneck, Jun 19, 2009.

  1. 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.
  2. Illum


    Bove.... lol
  3. Yeah, how many years in the futures after the 58 billion shares of dilution?
  4. Doesn't it suck when the stock hardly moved when you made a bald call? :D
  5. Yeah it will hit 12 after their 1 for 10 reverse split
  6. His majesty from a certain country would be highlly "delighted" if this happens....:p
  7. buylo


    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.
  8. 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!)
  9. Looks like it's going back to $2 soon with the crappy overall market tone.
  10. Bove forgot to mention C is a "screaming buy" -- like he said Lehman was :cool:
    #10     Jun 20, 2009