Thread: Watch $C - Citigroup Inc.
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Old 08-31-2009, 02:20 PM   Nav to Top 
Saintjames
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Question $C - Citigroup Inc.

Well this forum needs a thread for C so here it is. I have labeled this a WATCH because I think C is heading for a slight retrace this month, and I don't currently own any shares.



Current price $5.00. Anywhere below this is a screaming BUY according to many people I ask. Think BAC or AIG but not as juicy. Most analysts have a 12 month target of $8, but I think that is a very conservative estimate. $15-20 is certainly possible, but it hinges on many factors, not the least of which is paying back the TARP money.

Now keep in mind that C has very bad books and the outlook on banks through Sept expects to be bleak as they have already rose 100% in many cases. Also worth mentioning is that C is 36% owned by the federal govt. Seems fairly safe long term you would imagine if even the feds are waiting on the share price to rise?

I found this seekingalpha article interesting on Citi's curious 'Special Asset Pool': Citi's 'Special Asset Pool' Is Actually Toxic -- Seeking Alpha

...So what do SR readers think about C? or
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