- Goldman cashes in its chips on its Conviction Buy call of Citigroup (C), downgrading 2 notches to Hold after a 27% move for the stock since being added to the list at the start of the year.
- Other than the outsized capital returns, all of the other catalysts for owning the stock have been priced in, says analyst Richard Ramsden. "With the introduction of much more onerous capital rules for large-cap banks (LCR, Basel 3 CCAR, supplementary leverage ratio), we see risk that Citi's capital return story will be more muted in the near term than we had previously expected."
- Shares -1% premarket
Citi gets 2-notch downgrade from Goldman
Dec 4 2013, 07:24 ET