Monday, December 20, 2010

Citigroup (NYSE:C) Changes Goldman (NYSE:GS), JPMorgan (NYSE:JPM), Bank of America (NYSE:BAC), Morgan Stanley (NYSE:MS)

Citigroup (NYSE:C) made several changes to its EPS estimates and price target on banks today, including Goldman Sachs (NYSE:GS), JPMorgan (NYSE:JPM), Bank of America (NYSE:BAC) and Morgan Stanley (NYSE:MS).

On Goldman Sachs, Citigroup cut their quarterly EPS estimates from $4.15 to $3.85, although they reiterated their "Buy" rating on them.

For Morgan Stanley, they slashed their EPS estimates for the fourth quarter from 55 cents and $1.06, and for JPMorgan from 42 cents and $1.02.

Bank of America's EPS estimates for the fourth quarter were raised by Citi from 25 cents to 36 cents.

Goldman Sachs was trading at $165.70, up $1.66, or 1.01 percent, as of 11:38 AM EST. Citi maintains a "Buy" rating on Bank of America, which was trading at $12.66, up $0.09, or 0.72 percent. Citi reiterates their "Hold" rating on Morgan Stanley, which was trading at $26.34, up $0.10, or 0.38 percent. For JPMorgan they have their "Buy" rating maintained on them, and were trading at $40.15, up $0.48, or 1.21 percent.

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