Nomura Securities Maintains a 'Buy' on Citi (C); Updates From Meeting with Management; Shares Remain Attractive
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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) price target of $41.00.
Analyst, Glenn Schorr, said, "Citi will absolutely resubmit their capital plan. Our view is that this should be pretty close to an ‘open-book’ test. We anticipate somewhere in mid-Sept as the target date for potential Fed approval on Citi’s resubmitted capital plan and, under the optimistic scenario, Citi could then “do something” on capital returns in 4Q, but the real story remains 2013 and beyond. Securities and Banking are shaping up nicely in 1Q12, similar to 1H11, but a little below 1Q11. In addition, mgmt indicated it was willing to sell more than the scheduled 14% of the MSSB JV, if MS was inclined, given the capital benefit."
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 $37.80 yesterday.
Analyst, Glenn Schorr, said, "Citi will absolutely resubmit their capital plan. Our view is that this should be pretty close to an ‘open-book’ test. We anticipate somewhere in mid-Sept as the target date for potential Fed approval on Citi’s resubmitted capital plan and, under the optimistic scenario, Citi could then “do something” on capital returns in 4Q, but the real story remains 2013 and beyond. Securities and Banking are shaping up nicely in 1Q12, similar to 1H11, but a little below 1Q11. In addition, mgmt indicated it was willing to sell more than the scheduled 14% of the MSSB JV, if MS was inclined, given the capital benefit."
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 $37.80 yesterday.
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