Citi will hit $12 a share

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

 

Bove.... lol

 

Yeah, how many years in the futures after the 58 billion shares of dilution?

 

Doesn't it suck when the stock hardly moved when you made a bald call?

 

Yeah it will hit 12 after their 1 for 10 reverse split

 

His majesty from a certain country would be highlly "delighted" if this happens....

 

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!)

 

Looks like it's going back to $2 soon with the crappy overall market tone.

 

Bove forgot to mention C is a "screaming buy" -- like he said Lehman was