Meredith Whitney Upgrades Citigroup (C), Wells Fargo (WFC) and Capital One (COF)... Kind Of

Meredith Whitney Advisory Group re-calibrated their rating structure in the banking industry. The new rating structure is Buy, Outperform, Hold, Underperform, and Sell.

As a result of the recalibration:

• Citigroup (NYSE: C) upgraded from Sell to Underperform.
  
• Wells Fargo (NYSE: WFC) upgraded from Sell to Hold
  
• Capital One (NYSE: COF) from Sell to Hold

The majority of the recalibration did not result in a rating change:

• Bank of America (NYSE: BAC) Hold
  
• JP Morgan (NYSE: JPM) Hold
  
• PNC (NYSE: PNC) Hold
  
• SunTrust Banks, Inc. (NYSE: STI) Sell
  
• US Bancorp (NYSE: USB) Hold
  
• American Express Company (NYSE: AXP) Hold
  
• Discover Financial Services (NYSE: DFS) Hold
  
• The Goldman Sachs Group, Inc. (NYSE: GS) Hold
  
• Morgan Stanley (NYSE: MS) Hold
  
• Visa, Inc. (NYSE: V) Buy; Price target from $115 to $105
  
• Mastercard Incorporated (NYSE: MA) Buy; Price target from $300 to $280

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