Dick Bove Officially Moves to 'Buy' Rating On Citigroup (C)

Rochdale Securities' bank analyst Dick Bove upgraded Citigroup (NYSE: C) today from Neutral to Buy and raised his price target from $3.75 to $5 per share.

While today's upgrade makes the rating change official, Bove may have already well-telegraphed his more positive stance on Citigroup. Bove appeared on a number of TV shows making positive comments on the stock in recent weeks. In fact on Friday, Bove told Yahoo!'s Tech Ticker that the shares could move to around $8.50 per share within several years.

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