Citigroup (C) Says JPMorgan (JPM) Top Stock to Own, (BAC) (GS) Cheap

Citigroup (NYSE:C) said today that even though the banks stocks are getting crushed in the first quarter, it considers JPMorgan (NYSE:JPM) as the "Best Stock to Own."

Also noted was the relatively low price of Bank of America (NYSE:BAC) and Goldman Sachs (NYSE:GS).

“1Q11 appears to be shaping up slower than expected, as client activity and volatility in both Fixed Income and Equities have been decent, but not robust,” Horowitz said. "After what was generally a decent January, volumes seemed to subside in February and remained relatively subdued into the beginning of March – though activity appears to have accelerated given aggressive de-risking among equity investors and FX activity following the Japanese earthquake and central bank intervention."

JPMorgan was trading at $43.70, down $0.11, or 0.25 percent, as of 12:04 PM EDT.