Time to Buy Citigroup Shares (NYSE:C)
Why buy Citigroup (NYSE:C) shares? Very simple reason -- Goldman Sachs (NYSE:GS) says so.
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Over the past 12 months Citigroup Inc (C) shares have traded between $3.11 and its 52-week high of $5.07. Citigroup shares closed the day at $4.21, up 2.43% or cents, over 763.7 million shares traded hands. Citigroup was added to the conviction list at Goldman Sachs (GS), which said the stock trades at about a 35% discount to its target price of $5.50 a share.
(WSJ) Goldman said it believes Citigroup is a relatively inexpensive stock, the bank is less exposed than others to risks from mortgage securities, and a weight on the stock from partial government ownership should be lifted soon. Citigroup shares are about 2.8% higher this morning at $4.22 each. The 52-week high set in April was $5.07.