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Citi loses Buy rating at Sterne Agee

  • Citing concerns over controls raised by the Fed when rejecting Citigroup's (C) capital return proposal, increasing regulatory risk, slowing earnings growth, and no positive catalysts on the horizon, Sterne Agee  pulls its Buy rating on the name and lowers the price target to $52 from $60.
  • Shares -0.7% premarket
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