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27 April 2011

Buy The Heck Out of Citi

Although Citigroup (C) posted a quarterly profit narrowly beating Wall Street forecasts last week, I am bullish on the stock. The bottom line is this was a very encouraging quarter, if you are looking for accelerating future revenue growth.
I think this stock will be one of the best performers going forward for the remainder of the year. While the big positive in JPMorgan (JPM) and Bank of America (BAC) earnings was commercial loan growth, Citi enjoyed strong retail loan growth. Total retail loans grew 11 percent, and 22 percent in Latin America and 16 percent in Asia.