Nomura Securities maintains a 'Buy' on Citi (C); Continue To View Stock As Attractive

Nomura Securities maintains a 'Buy' on Citi (NYSE: C).

Nomura analyst, Glenn Schorr, said, "We think Citi’s 1Q11 results ($0.10 EPS vs. our/Street ests of $0.08/$0.09) showed continued positive momentum for the firm’s recovery story. We also think positive operating leverage (revenues rose 7% q/q and expenses declined 1%) gave a glimpse of the power that the Citi franchise could deliver eventually as loan growth in CitiCorp should continue and the NIM should eventually improve when interest rates rise. Additionally, the non-US franchise continues to show strength and capital continues to grow. To reflect the average in 1Q11, we tweak our 2011 EPS est to $0.44."

For more ratings news on Citi click here and for the rating history of Citi click here.

Shares of Citi closed at $4.42 yesterday.

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