Thursday, March 5, 2015

Citigroup: Bullish Trends For A Cheap Stock


Summary

  • Citigroup announced two positive deals this week.
  • The news sets the company up for a strong capital return plan in 2015.
  • Stock remains cheap trading below tangible book value.
For a very maligned stock, Citigroup (NYSE:C) is starting to generate a bullish trend. Just this week, the large financial institution announced the selling of subprime lender OneMain Financial Holdings and the signing of a co-branded credit card deal with Costco (NASDAQ:COST). The stock remains stuck in a channel for the last two years between $45 and $55. Will this combination of bullish events finally push the stock higher?

Read the full article at Seeking Alpha.


Disclosure: Long C. Please review the disclaimer page for more details. 




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