Time to Buy Citigroup Shares (NYSE:C)

Citigroup - Corporate Office

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. gs 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.

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SOURCE: http://blogs.wsj.com/deals/2010/10/25/buy-citigroup-shares-goldman-says/

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