Citigroup’s strong 1st quarter seems to have changed the tune of Meredith Whitney slightly as she changed her rating to “hold” from “underperform.” Last month she was saying that Citigroup had no earnings power which is laughable if you have even the most juvenile ability to read financial statements. Perhaps when Citigroup is at $50 per share she’ll upgrade the stock to a buy. I am amazed at these banking analysts that take a swing trading approach in their research calls, and I think most investors are better served ignoring their analysis.
INVESTING IN THE FINANCIAL MARKETS INVOLVES RISKS. OPTIONS ARE NOT SUITABLE FOR ALL INVESTORS.