CNBC Stock Blog
- Portfolio Prep for Next Week: 'Don't Get Crazy'
- Strategists on Dubai: Avoid 'Rash Moves' Now
- Dubai Stock Market Fear Has 'Legs': Dennis Gartman
- Surprising Options Trades in TiVo Shares
- 10 Dividend Picks For Your Portfolio: Chief Investors
- 4 Thanksgiving Week Buys For Your Portfolio: Market Pros
- There's a 'Great Chance' For a Double-Dip Recession: Strategist
- Retail Earnings and Sales to Improve in Q4: Analyst
- 4 Food Stocks to Stuff in Your Portfolio: Analyst
- S&P at 1050-1200 Trading Range Next Year: Strategist
MOST SHARED
- Tiger Woods Out of Hospital After Accident
- The Good Entrepreneur Winner
- Gold Will Collapse Like Oil Did in 2008: Charts
- Abu Dhabi Will Aid Debt-Fraught Dubai 'Case by Case'
- Next Week: Cash In Now Or Wait For A Santa Rally?
- Halftime Report: Dubai - First Ripple Of Larger Crisis?
- CNBC VIDEO: Warren Buffett & Bill Gates 'Walk & Talk' at Columbia University
- U.S. Stocks Fall on Dubai Worries
- Black Friday at Best Buy
- Strategists on Dubai: Avoid 'Rash Moves' Now
- Longer Lines, Fuller Carts This Black Friday
- Dubai Stock Market Fear Has 'Legs': Dennis Gartman
- Obama's Emission Reduction Pledge Paints Future for Autos
- Is Super Bowl Halftime Act Too Old?
- Surprising Options Trades in TiVo Shares
- EA Sports Hopes to Pump Up Sales Through Pop-Up Locations
- Abu Dhabi Will Aid Debt-Fraught Dubai 'Case by Case'
- Banks With The Biggest Exposure to The UAE
- Dubai's Debt Woes Signal New Era for Creditors
- Next Week: Cash In Now Or Wait For A Santa Rally?
- Dubai Stock Selloff May Bring Buying Opportunity
- Longer Lines, Fuller Carts This Black Friday
- Big US Banks May Be Forced to Raise Capital: Bove
- Bank of America Amends Pay for Senior Executives
- Tiger Woods Out of Hospital After Accident
RSS FEED
Text Size 
Rochdale Securities analyst Richard Bove started Citigroup with a 'buy' rating and a price target of $4 Friday, calling it "the only truly international bank in the world."
Citigroup's normalized earnings estimate makes the bank attractive, Bove said. Though it will take time to return to the core business, Citi will have that time, he said, explaining why he is positive on the company's outlook.
He said he expects Citigroup to report a 2009 loss per share of 52 cents and an earnings per share of 13 cents in 2010. His estimate for 2011 is 32 cents per share.
Normalized earnings are expected to be $1.15 per share, suggesting an ultimate target for the bank is $12, Bove said.
In his notes, Bove said he was reassured after the U.S. government provided funding for the bank, stating that Citi was "too big to fail."
Citigroup's [C
Loading...
()
] shares were up 3.8 percent at $3.25 in pre-market trade on Friday.
Disclosures:
Disclosure information was not available for Richard Bove or his company.
Data is a real-time snapshot *Data is delayed at least 15 minutes