According to the Wall St Journal Citigroup shares are jumping this afternoon after banking
analyst Meredith Whitney upgraded shares on the bank to “hold” from
“underperform.”
Say what? As recently
as last month, Whitney was still singing an overly bearish tune. Last month she
told CNBC that Citigroup has “no earnings power,” “they’re just not going to
grow,” it “hasn’t been investable in four years” and “it’s like an old
broken-down Victorian house.”
But now, Whitney is turning slightly less pessimistic on the
bank….
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