Another upgrade for Citi

"Nearly all prior issues that kept us on the sidelines have been addressed and new more recent concerns seem largely reflected in shares and sentiment," says Evercore's Andrew Marquardt, upping Citigroup (C +0.1%) to a Buy with $58 price target.

Allowing the possibility of a "challenging" operating environment in 2014, Marquardt's view is that of an upward bias to the economic recovery which should boost the money center banks, particularly Citi.

He's not the first to notice - Citigroup remains the only TBTF still trading below book value and at just 8.5x normalized EPS.

Previous: BAML makes a similar case

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Comments (1)
  • surfcove
    , contributor
    Comments (372) | Send Message
    Curiously, there doesn't seem to be much interest for comments on C articles. The stock hasn't moved in 3 or so years, since the reverse split Maybe they should do a 10-1 split. (wink)
    16 Dec 2013, 08:59 PM Reply Like
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