Goldman Sachs Upgrades Citi (C) to Buy, Downgrades Bank of America (BAC)
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Price: $138.51 -0.59%
Rating Summary:
31 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
31 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Goldman Sachs upgraded Citi (NYSE: C) from Neutral to Buy with a price target of $36 (up from $35), as they downgraded Bank of America (NYSE: BAC) from Buy to Neutral with an $8 price target. The firm sees greater upside in C's shares from here.
Specifically, Goldman sees a clearer path to capital returns at Citi with a potential 4.3% effective yield in 2012E. They also see greater execution risk at BAC over the next 12-18 months.
For an analyst ratings summary and ratings history on Citi click here. For more ratings news on Citi click here.
Shares of Citi closed at $30.87 yesterday.
Specifically, Goldman sees a clearer path to capital returns at Citi with a potential 4.3% effective yield in 2012E. They also see greater execution risk at BAC over the next 12-18 months.
For an analyst ratings summary and ratings history on Citi click here. For more ratings news on Citi click here.
Shares of Citi closed at $30.87 yesterday.
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