Nomura defends Citigroup (C -3.3%) in the wake of its stress test failure. The firm thinks the...

|About: Citigroup Inc. (C)|By:, SA News Editor
Nomura defends Citigroup (C -3.3%) in the wake of its stress test failure. The firm thinks the results only serve to push back Citi's capital returns "until later this year or next," and notes a planned $2B stock buyback would have only boosted this year's EPS by $0.04. It still likes Citi on account of its low valuation, international position, margin stability, and limited mortgage-related risk. (JPMorgan downgrade)