On more than one occasion 24/7 Wall St. has said Citigroup’s (NYSE: C) shares could go as low as $15. Now Oppenheimer is saying it agrees.
Bloomberg writes "Citigroup may post its second-straight quarterly loss because of writedowns on home-equity loans and junk-grade corporate loans, Oppenheimer & Co.’s Meredith Whitney said."
The analyst says Citi may lose $1.6 billion in the current quarter and she is cutting here per share earnings estimate for the year 70% to $.75. She adds that the stock could fall to $16.
Douglas A. McIntyre
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
