Vote Now! Battle of the Banks: Citigroup vs. BofA
Improvement in the housing market has helped lift bank stocks this year, and Moshe Orenbuch, analyst at Credit Suisse, told CNBC's "Squawk Box" on Thursday that he expects that to continue at Citigroup.
Orenbuch's price target on Citi is $50 a share, which would add another 8 percent to year-to-date gains of 16 percent already. He also pointed to Citi's low valuation, improving capital, and profitability as other reasons for his bullish outlook on the stock.
But Orenbuch said he's not as optimistic about Bank of America, which has posted a 10 percent increase so far this year. His price target on the stock is $12 a share, which would be a 6 percent slide from current levels. He expressed concern about the risks of future charges from BofA's troubled Countrywide Financial unit.
Alright, now we want to know what you think. Vote in Thursday's "Squawk Box Money Madness" matchup of our South region's top-seed Citigroup vs. bottom-seed Bank of America. You can find the poll on our Facebook page.
In Wednesday's contest between Facebook and financial powerhouse Goldman Sachs, viewers put the social network through to the next round in a close race. Facebook got 53 percent of the vote.
(Recap: Facebook vs. Goldman Sachs)
Disclosures: Bank of America and Citigroup currently is, or was during the 12-month period, a client of Credit Suisse, which provided investment banking and non-investment banking services and has managed or co-managed a public offering of securities during that time frame.