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"We were somewhat surprised/pleased by the magnitude," of Citigroup's (C +5.4%) anticipated...

"We were somewhat surprised/pleased by the magnitude," of Citigroup's (C +5.4%) anticipated savings, says Wells' Matt Burnell, reacting to the announced job cuts. He reiterates an Outperform, saying the move will accelerate the stock's run towards Citi's $53 in tangible book value.
Comments (1)
  • Hitesh Patel
    , contributor
    Comments (314) | Send Message
     
    I wonder if the 11000 being let go will be "Pleased" at the cost savings. I think you will see 26 before 53 Matt
    5 Dec 2012, 11:50 AM Reply Like
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