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

To: ChanceIs who wrote (219511)	9/9/2009 1:59:39 PM
From: ChanceIs	Read Replies (2) \| Respond to of 306849

Citigroup upgrades two credit-card issuers >>>Couldn't understand why COF was rocketing today. Still can't.<<< Sep 9, 2009, 9:00 a.m. EST NEW YORK (MarketWatch) -- Citigroup lifted its ratings Wednesday on two credit-card issuers, citing a more positive outlook on the stabilizing sector as a whole. Capital One Financial Corp. was upgraded to buy from hold and its price target was increased to $44 from $28, as analyst Donald Fandetti noted his view that "the credit cycle has begun to recover for U.S. credit cards... and an improving U.S. economy will support local bank credit stabilization" in 2010. MasterCard Inc.'s rating was boosted to hold from sell and its target price was hiked to $209 from $172. Fandetti said that while he remains concerned about weak consumer spending, the "big negative adjustment" in purchase volume has already taken place. Shares of Capital One ended Tuesday at $35.44, while those of MasterCard closed at $207.45.