Citigroup has a competitive advantage,in the view of David Konrad,CFA,Managing Director at Keefe,Bruyette and Woods.They will be able to sell Citi Holdings,their troubled assets,and are doing well at this time of growing trade finance.Citi is improving its Basel III captial ratio.
The drag of Citi Holdings will decline each year,easing significantly over the next few years.The bad bank will take five years to entirely dissolve.In about two years,Citi Holdings will be less than 10% of Citigroup.
The stock will rally 33%.We do a lot of stress models,and we think the capital is there.The transparency has gotten better over the past year.KBW has upgraded Citigroup to outperform,with a price target of 44 dollars.
Keefe,Bruyette and Woods is a full service boutique investment bank.Its specialty is the financial services sector.
Citigroup closed at 34.78 on Monday.
Citigroup(C),Keefe Bruyette and Woods(KBW)
Showing posts with label Keefe Bruyette and Woods. Show all posts
Showing posts with label Keefe Bruyette and Woods. Show all posts
Tuesday, October 9, 2012
Tuesday, July 7, 2009
Q2 Stock Market Results
The best-performing U.S. stocks in Q2 were Genworth Financial,up 267.9%;Bank of America,up 93.5%;and Wynn Resorts,up 76.8%.The worst performers were KeyCorp,down 33.4%;Cephalon,down 16.8%;and Wal-Mart,down 7%.KeyCorp has since been upgraded to overweight by Keefe,Bruyette and Woods,based on valuation.
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