With all of the problems at Citigroup (NYSE: C), it would seem improbable that the shares would make a big run. The company still has no CEO, and Moody's has just written down more of the assets in structured investment vehicles attached to the big bank. Wall Street does not know how big the Citi write-offs will be for the fourth quarter, but they are likely to be staggering.
Thomson shows that the current consensus recommendation of 19 analysts who follow the Citigroup is 2.53 on a buy/sell scale of 1 to 5. That seems pretty high for a bank that is in so much trouble.
The price targets on the bank also appear lofty. The median target price is $43 against a current share price of $33.30. Analysts have looked unrealistic before, and they will again. There is little reason to think Citi is heading to above $40 anytime soon, even if the company announced a strong selection for CEO.
Douglas A. McIntyre is an editor at 247wallst.com.
Entrepreneur's Journal: Putting together a solid sales contract
The week in preview: Earnings from Walmart, Macy's, and other retailers
Six top trades for the rest of 2009
Reader Comments (Page 1 of 1)
12-02-2007 @ 4:24PM
tina said...
Hello!I would like to ask if anybody knows a website where i can find
financial ratios of companies. Thank You in advance.
12-03-2007 @ 1:38PM
charles said...
citigroup may return to its old price ,however, in ten years.they hoodwinked the american public and caused the lost of billions from elderly and other similar groups of people by lying squarely into the american peoples faces.i would be happy if they would make it their obligation to return these lossses to pensioners and others who trusted them and they did not come thru.this is not the american way!