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Fly News Breaks for June 1, 2015
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Jun 1, 2015 | 05:41 EDT
Goldman Sachs analyst Richard Ramsden upgraded Citi to Buy from Neutral citing an attractive risk/reward at current valuation levels. Ramsden points out Citi is cheaper than 96% of stocks in the S&P index on earnings while trading below book value. The analyst sees a low bar for Citi, and believes investor concerns can ease with the bank builds on the earnings progress seen in Q1. He raised his price target for the stock to $61 from $57. Shares of Citi closed Friday at $54.10.