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Citigroup’s Target Lowered at Sterne Agee, but Still a “Buy” (C)

By Dividend.com,  May 22, 2012, 09:51:59 AM EDT

Banking giant Citigroup Inc. ( C ) on Tuesday saw its price target cut by analysts at Sterne Agee.

The firm maintained its "Buy" rating on Citigroup but reduced its price target from $43 to $35. That new target suggests a 33% upside to the stock's Monday closing price of $26.25.

Citigroup shares rose 74 cents, or +2.8%, in Tuesday morning trading.

The Bottom Line
Shares of Citigroup ( C ) have a .15% dividend yield, based on last night's closing stock price of $26.25. The stock has technical support in the $23-$25 price area. If the shares can firm up, we see overhead resistance around the $30-$32 price levels.

Citigroup Inc. ( C ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 2.8 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: C



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