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C - Citigroup

Discuss your current picks

C - Citigroup

Postby Cmartin on Mon Mar 31, 2008 8:50 pm

Ah the beleaguered financial stocks. Look I know that the financials are in the pits and I am not one to call a bottom or pick a time for a quick turn around. But lets face it, these companies are nearing the end of the mark downs and I think a lot of the bad news is priced in (I plan on doing a follow up where I actually crunch some numbers on that). But this sucker is yeilding 6% which is well above the treasury rate. Analysts are neutral to negative on the stock (which leaves room for upside surprise and upgrades; both of which will boost the stock fairly quickly). It's trading around $21 right now and I think within a couple of months you could see this thing trading in the 30s (which would be a 50% gain).
"I would rather earn 1% off a 100 people's efforts than 100% of my own efforts" - John D Rockefeller
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