Oppenheimer's Whitney on CNBC: More Financial Carnage Ahead
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Price: $131.70 +0.30%
Rating Summary:
31 Buy, 11 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 13 | New: 35
Rating Summary:
31 Buy, 11 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 13 | New: 35
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On CNBC, Oppenheimer's Meredith Whitney said she expects financials to trade down to tangible book value before there is real value. She said Citi's (NYSE: C) tangible book would be around $10-$12 and Merrill Lynch's (NYSE: MER) could be around $30.
Whitney also expects Citi to completely wipe-out their dividend. She also sees dozens of dividend cuts across the sector.
Whitney says even financial stocks she likes, she does not like. [LJ]
Whitney also expects Citi to completely wipe-out their dividend. She also sees dozens of dividend cuts across the sector.
Whitney says even financial stocks she likes, she does not like. [LJ]
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