Goldman Sachs Likes Citigroup (C) Calls Ahead of Results
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Although shares of Citigroup (NYSE: C) are down today, option strategists at Goldman Sachs said it is one of their top trade ideas.
The firm is recommending buying Citigroup calls ahead of earnings on 18-Oct.
"Citigroup is our Banks analyst’s favorite long idea into earnings, as the stock trades below his estimated 3Q10 book value of $4.44. The set-up is attractive with mutual funds underweight. We’d buy inexpensive calls."
Shares of Citigroup are down 4.6% today to $4.05, with a number of large U.S. banks lower on the foreclosure debacle.
The firm is recommending buying Citigroup calls ahead of earnings on 18-Oct.
"Citigroup is our Banks analyst’s favorite long idea into earnings, as the stock trades below his estimated 3Q10 book value of $4.44. The set-up is attractive with mutual funds underweight. We’d buy inexpensive calls."
Shares of Citigroup are down 4.6% today to $4.05, with a number of large U.S. banks lower on the foreclosure debacle.
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