Another overly optimistic long! Bet you were saying the same thing about real estate in 2007. LMAO! Good luck this thing is going down much lower earnings are limited on all banks for a good long while.
Sentiment: Strong Sell
The only way C will get to 75 is when forward 12 months earnings (currently at $5.40 and therefore the current top for C with a PE of 20) projections reach $7.50. That would take a 50% increase in C's revenues, which would take a 50% increase in GDP.
With a GDP growing at a conservative 2%, even with the Fed pumping into the banks $85 billion/mt, it would take 20 years for the GDP to grow 50%.
If the economy grew twice as fast at 4%, it would still take 10 years for C to reach $75.
In the short term, when the debt ceiling debate and institutional profit taking starts in January, the market will probably correct.
You are talking about Citigroup, the company that is so screwed up it lost 98% of its value and in five years has not recovered at all. This company can't figure out what thefuck is going on. It cheats, lies and steals from everyone and now wants a bonuses on selling Citi Holding which is why stockholder have not got a DIV in 5 years. Fire the Executives and give them 0 for a bonus.
When it comes time for election of new BOD, Lets pick one member and concentrate getting rid of him. Maybe they will get the message. A penny divi a quarter is ridiculous compared to what the BOD gets paid.