Oppenheimer Maintains an 'Outperform' on Citi (C); Q2 Review: Shares Dramatically Undervalued
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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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Oppenheimer maintains an 'Outperform' on Citi (NYSE: C) price target of $49.00 (from $48.00).
Analyst, Chris Kotowski, said, "Citi reported 2Q12 EPS of $0.95 and an "adjusted" number of $1.00 versus our estimate of $0.88...While the revenue comparisons remain sluggish, particularly on the wholesale side, C's core earnings power has been pretty stable and asset quality has been improving...As a result of these two factors Citi's core earnings have trended steadily higher and capital ratios and tangible book value should trend higher with them. The stock should be trading substantially higher than 52% of TBV given those facts, in our view."
Kotowski tweaks FY13 EPS from $5.16 to $5.14.
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 $26.81 yesterday.
Analyst, Chris Kotowski, said, "Citi reported 2Q12 EPS of $0.95 and an "adjusted" number of $1.00 versus our estimate of $0.88...While the revenue comparisons remain sluggish, particularly on the wholesale side, C's core earnings power has been pretty stable and asset quality has been improving...As a result of these two factors Citi's core earnings have trended steadily higher and capital ratios and tangible book value should trend higher with them. The stock should be trading substantially higher than 52% of TBV given those facts, in our view."
Kotowski tweaks FY13 EPS from $5.16 to $5.14.
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 $26.81 yesterday.
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