After the beating that Citigroup (C) has taken and with all of the trouble that may still be ahead, investors would think securities analysts would have a negative outlook on the company’s stock.
It hasn’t worked out that way. According to Thomson/First Call, the mean rating on Citi is a 2.7 with a 1.0 representing a "strong buy" and a 5.0 being a "strong sell." Even more perverse is the mean price target that fifteen analysts surveyed have on the stock–$43. The stock trades at $30 now.
The recent issue of Barron’s may be right, Analysts just won’t rank most companies as an outright "sell."
Douglas A. McIntyre
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