Morgan Stanley Upgrades Citi (C) to Overweight
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Price: $131.65 +1.53%
Rating Summary:
31 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
31 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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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.
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