Sterne Agee Upgrades Citigroup Inc. (NYSE:C); Recommends to "Buy" - JPM, WFC, STI

Pompano Beach, FL -- (SBWIRE) -- 01/03/2013 -- Citigroup Inc. (NYSE:C) upgraded by Sterne Agee from Neutral to “Buy” with a $50 price estimate. Sterne Agee stated that the fourth quarter change in the Chief Executive Officer slot with the hiring of Michael Corbat is a game changer, in their opinion.

How Should Investors Trade Citigroup Now? Don’t Miss out a Special Trend Analysis

The largest risk at this point is the possible volatility associated to the Euro-zone, which seems to becoming stable with the international liquidity stimulus and continuing country-specific actions.

Furthermore, the shares could prove slightly volatile over the succeeding quarter or two, mainly as capital markets-associated revenues are expected to stay uninspiring in the existing environment given the persistent fiscal improbability emanating from Washington.

So far today, Citigroup Inc. (NYSE:C) shares up +0.36% to $41.42 while the stock is changing hands within a range of $41.04 – 41.42. In the past year, the stock has traded between $24.61 and $41.42. Its average daily trading volume is 36.45 million shares.

Will Citigroup Continue To Move Higher? Find Out Here

Looking at other stocks within industry, JPMorgan Chase & Co, Wells Fargo & Company and SunTrust Banks, Inc were in the losers list. Let’s have a quick look on their Market performance.

JPMorgan Chase & Co. (NYSE:JPM) shares are down -0.31% to $44.52 while the stock is trading within the range of $44.20 – $44.75 in the current trading session. In the last 12 months, shares have floated between $30.83 and $46.49. This stock, on average, has trading volume of 22.18 million shares.

Will JPM Get Buyers Even After The Recent Rally? Find Out Here

In this session so far, Wells Fargo & Company (NYSE:WFC) shares moved down -0.44% reaching $34.90. The stock is trading in a range of $34.61 – $35.04. In the last year the stock has moved within a range of $28.04 – $36.60. The Company’s average daily trading volume is 22.08 million shares.

Has WFC Found The Bottom And Ready To Gain Momentum? Find Out Here

Another rival company, SunTrust Banks, Inc. (NYSE:STI), is down -2.12% higher to $28.64. The stock price is hovering in range of $27.98 to $28.66. In the previous 52 weeks, shares price ranged between $18.07 and $30.79. Their average daily trading volume is 4.69 million shares.

Why Should Investors Buy STI After the Recent Fall? Just Go Here and Find Out

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