Citigroup Inc Update: Citigroup downgraded at Rafferty Capital to Sell from Buy, price target cut to $44.50 from $57
- Firm no longer believes that Citigroups book value can be trusted.
- Richard Bove notes issues arising in a number of foreign nations suggest that loan quality at Citigroup may erode. The bank was the only one he follows that showed weaker loan quality in the fourth quarter and believes the problems here may accelerate. >