It is bad enough that Richard Ramsden, a Goldman Sachs analyst, has a $1.50 price target on Citigroup (C), which is less than half of where the shares trade now. Ramsden is calling for Citi’s situation to get much worse.
According to Bloomberg, “Citigroup Inc.’s credit losses are growing at a “rapid rate,” undermining Chief Executive Officer Vikram Pandit’s efforts to stabilize the U.S. bank”, according to Goldman.
Based on how well Citi’s shares are trading Ramsden does not have many friends.
Douglas A. McIntyre