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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Think4Yourself who wrote (200454)	5/6/2009 8:00:16 AM
From: RockyBalboa	Read Replies (1) \| Respond to of 306849

Citigroup possibly underestimates, raises BAC to a buy and target... effin pumpers: BRIEF-US stress test banks need total capital of $75 bln, says Citigroup May 6 (Reuters) - * Citigroup raises Bank of America Corp price target to $14 from $10; rating buy * Citigroup raises Bank of America price target to reflect reduced uncertainty surrounding Capital needs * Citigroup says bofa has significant options available even beyond preferred stock to fill Capital hole * Citigroup says increased government stake in bofa highly unlikely * Citigroup continues to see excellent long-term value in bofa stock * Citigroup's keith horowitz estimates 10 of 16 banks in his universe will need to raise common Capital after stress test * Citigroup says best estimate is bofa, Capital One ,fifth third will need to raise Capital under scap stress test * Citigroup says best estimate is KeyCorp PNC Regions will need to raise Capital under scap stress test * Citigroup says best estimate is Suntrust US Bancorp will need to raise Capital under scap stress test * Citigroup says best estimate is Wells Fargo will need to raise Capital under scap stress test * Citigroup says BB&T Corp also may need Capital, but it can address the need by cutting dividend * Citigroup says amex , Bank of New York Mellon seem to have sufficient Capital under a stress scenario * Citigroup says Goldman Morgan Stanley JPMorgan seem to have sufficient Capital under a stress scenario * Citigroup says State Street Corp seems to have sufficient Capital under a stress scenario * Citigroup estimates total Capital needs for the banks to be $75 billion with largest need at Bank of America of $33 billion * Citigroup estimates Wells Fargo Capital need to be $22 billion, KeyCorp $3.5 billion, SunTrust Banks $3.3 billion * Citigroup sees Bank of New York Mellon Goldman, State Street faring best in stress test; believes valuations remain attractive ((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))