Morgan Stanley Upgrades Citi (C) to Overweight
Tweet
Share
E-mail
Get Alerts C Hot Sheet
Price: $139.33 +0.43%
Rating Summary:
31 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
31 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Morgan Stanley upgraded Citi (NYSE: C) from Equal Weight to Overweight.
The firm said Citigroup is rolling-off non core assets quicker than expected, which could lead to significant capital returns.
The Citi Holdings wind-down frees up $19 billion through 2014, which may go toward buybacks starting in 2012. The analyst sees 49% of current market cap returned to shareholders through 2014.
Citi's 1-for-10 reverse stocks split occurs today.
For more ratings news on Citi click here and for the rating history of Citi click here.
Shares of Citi closed at $4.48 yesterday.
The firm said Citigroup is rolling-off non core assets quicker than expected, which could lead to significant capital returns.
The Citi Holdings wind-down frees up $19 billion through 2014, which may go toward buybacks starting in 2012. The analyst sees 49% of current market cap returned to shareholders through 2014.
Citi's 1-for-10 reverse stocks split occurs today.
For more ratings news on Citi click here and for the rating history of Citi click here.
Shares of Citi closed at $4.48 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- VICI Properties closes $1.75B senior unsecured notes offering
- NANO Nuclear Announces Participation in Several Investor Conferences
- JPMorgan Upgrades Akamai Technologies (AKAM) to Neutral 'on Account of Confidence in Revenue Reacceleration'
Create E-mail Alert Related Categories
Hot Upgrades, UpgradesRelated Entities
Citi, Morgan StanleySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
