Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (21620)	7/24/2002 10:38:02 AM
From: Joe S Pack	Read Replies (1) of 74559

Joke of the day is in the last para from an AnalY*st Murray from JP Morgan on Citi. Reuters Market News RESEARCH ALERT-JP Morgan raises Citigroup to 'buy' NEW YORK, July 24 (Reuters) - J.P. Morgan on Wednesday raised its investment rating on shares of Citigroup Inc. (NYSE:C - News), the No. 1 financial services firm, to "buy" from "market perform," citing the company's recent stock drop. ADVERTISEMENT [ETRADE Financial] "We believe (Citigroup) is oversold," analyst Catherine Murray said in a research note, adding the company's stock was down more than 45 percent so far this year. Citigroup shares, were were off more than 4 percent on Wednesday, have been pressured as U.S. congressional investigators charged the company helped bankrupt Enron Corp. (Other OTC:ENRNQ.PK - News) hide debt that ultimately led to the energy trader's collapse. "We find it hard to believe that Citigroup knowingly participated in fraudulent activity," Murray said.

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