Citi Analyst Makes Positive Comments on Merrill Lynch (MER)
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Citi maintains 'Buy' rating on Merrill Lynch (NYSE: MER). Price target $75.
Citi analyst says, "Merrill Lynch can double earnings power over the next couple of years. We anticipate that the franchise could earn in the $10b-$12b range (vs our 2008 forecast in the $5b range) by capitalizing on several billion-dollar revenue opportunities in each of its major businesses...John Thain, Merrill's new CEO, is the catalyst to unlock the earnings power of the franchise which would then result in meaningful value creation."
Merrill Lynch & Co., Inc. (Merrill Lynch) is a holding company that provides investment, financing, insurance and related services to individuals and institutions on a global basis through its broker, dealer, banking, insurance and other financial services subsidiaries.
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