Friday, December 3, 2010

Citigroup (NYSE:C) CFO John Gerspach on Company Prospects

Citigroup, Inc. (NYSE:C) CFO John Gerspach sat down with analysts from Susquehanna Thursday to give his take on where things were at with the giant financial institutions.

Susquehanna noted that "Citigroup is stabilizing as a business and as an organization after several years of turmoil and is focused on a clear strategy."

They added that in the short term a couple of trends would be characterized as neutral-to-negative, including low capital market volumes and net interest margin compression in the fourth quarter. It will come in at at least 8 basis points said Gerspach, and may even go higher than 10 basis points.

Susquehanna maintains a "Neutral" rating on Citigroup, with a price target of $4.25 on them. Citi closed Thursday at $4.42, gaining $0.12, or 2.79 percent.

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