Nomura Securities maintains a 'Buy' on Citi (C); Takeaways After Meeting with CEO and CFO
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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
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Nomura Securities maintains a 'Buy' on Citi (NYSE: C).
Nomura analyst, Glenn Schorr, said, "Despite being past the crisis, mgmt noted the global economy still faces imbalances, which keeps tail risk elevated. Still, their base case remains positive and they specifically noted that they see no new evidence indicating that credit is getting meaningfully worse (emerging market businesses have lower leverage and are growing, corporate balance sheets are healthy & Citi has less US mortgage exposure). Regarding SIFI, mgmt thinks 8-9% T1C is about right. In addition, given significant balance sheet improvement over the past 18+ months we don’t expect a (net) credit rating downgrade from Moody’s. Continue to view the stock as attractive, as international grows and credit improvement provides earnings and book growth."
For more ratings news on Citi click here and for the rating history of Citi click here.
Shares of Citi closed at $40.01 yesterday.
Nomura analyst, Glenn Schorr, said, "Despite being past the crisis, mgmt noted the global economy still faces imbalances, which keeps tail risk elevated. Still, their base case remains positive and they specifically noted that they see no new evidence indicating that credit is getting meaningfully worse (emerging market businesses have lower leverage and are growing, corporate balance sheets are healthy & Citi has less US mortgage exposure). Regarding SIFI, mgmt thinks 8-9% T1C is about right. In addition, given significant balance sheet improvement over the past 18+ months we don’t expect a (net) credit rating downgrade from Moody’s. Continue to view the stock as attractive, as international grows and credit improvement provides earnings and book growth."
For more ratings news on Citi click here and for the rating history of Citi click here.
Shares of Citi closed at $40.01 yesterday.
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