WIth the recent sale of two of its major holdings and amid rising pressure by investors, Citybank should finally have a more sunny skies this quarter.
Richard Bove, of Rochedale Securities, raised his price target on Citigroup Inc. (NYSE: C ) to $6.50 and said that Citigroup "has an attractive long-term future" and "will be funded by one of the most liquid balance sheets in banking."
Just this week, Deutsche Bank started new coverage on the Citigroup with a Buy rating and $5.50 price target. They said while issues remain, investor focus will eventually shift to what <nobr> Citi 
</nobr> can earn in a more normal environment and what will be done with excess capital.
Citigroup will issue its third quarter 2009 results via press release at approximately 8:00 AM (EDT) on October 15, 2009.
I believe that if Citygroup pulls off a positive report while investors are still nostalgic over the JPM financial report and the Dow is still above 10000 then this stock will explode in a major way.
$5.0 (10/15/09)
