Jim Cramer Says Citigroup Inc. (NYSE:C) to $12
“Citigroup Inc. (NYSE:C) is a buy, buy, buy, on the heels of its $17 billion equity offering to finally repay its government TARP loan,” Jim Cramer said. He told investors with cheap stocks hard to come by in this market, Citigroup could run over the next couple of years as the world economy returns. Cramer mentioned that investors are sick of financial stocks due to the countless equity offerings and the issues with TARP. However, now Cramer thinks the financial sector has bottomed, with only Citigroup and Wells Fargo & Company (NYSE:WFC) left to complete offerings. Once these two banking giants have completed their offerings, the stocks should restarts their push higher. Cramer said he prefers Citi over Wells Fargo for the following reasons: Citi has less mortgage exposure, fewer foreclosures, a bigger overseas presence, and the stock has already dropped big ahead of the secondary offering. He mentioned that the government’s ownership of the stock is a non-issue due to Citi’s daily liquidity. Cramer said Citigroup should hit $12 a share by 2012. “Now this move won’t happen overnight, rather over time. But as Citigroup turns around and recovers, so too will the share price,” he said. Cramer told viewers that Citigroup is the ideal spec for your portfolio. Join the fastest growing community of small cap investors at Stockhideout.com
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jim stands behind his picks. he’s a small investor’s hero!
Yea Yea… After it goes to 0.13
Guess Cramer needs to unload his holdings, again.
what about the reverse split talk jim cramer!?!?!!?!! please enlighten us about this on C
i am sick and tired of this argument abut C city,it is sick that gavrement alaud people to put their pension money in th estock market and then lose so much, that is realy sick.
that is when you sell sell sell
buy buy buy…
Boy, 20% plummet in two days since “buy buy buy”–and didn’t Jim recommend a “buy” at 4.60 and a “buy buy buy” at 4.25–just two months ago?
He needs to explain himself.
Thanks for the comments.. But i would like to know, how you guys see C in the next few weeks/months. Seems C gets more and more in trouble. Will C Stocks fall the next weeks ?
Citibank is a dog stock.. why in the world would anyone waste their time with it. There are plenty of other small bank stocks which are doing quite well.. RIGHT NOW, not years in the future.
BUY BUY BUY those put options while they are still cheap
I’d like to see Cramer declare how many shares of Citi he has and at bought at what price. If he believes it will hit $12 by 2012, how many more Citi shares is he buying in now ?
I have 14,000 at 3.5 avg price. There is great disparity in this market. JPM (great company – own 4k share) at 42 (thoughts it goes to $90) and C=3.2 today? Seems a bit odd. Look at BAC (own 5k shares) is sitting at $15, but about same size as JPM. Financial are hurting, but this?
Good luck everyone, no matter what your position is!
No! Jim said this same sort of crap about Merril Lynch. C is going to die. Its overseas exposure will kill it. The Gov got its TRAP money out because it didn’t want to loose it. Now the Gov will bleed off its 34% stake in C. This is looking like July ’08 to me. Stay out of C, and don’t watch Cramer.
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With the massive dilution, it will take a LONG time for the stock to reach $12 even if the economy recovers soon.
JC has been recommending C all the way down from $5, but never takes responsibilty for his myriad of bad calls.
Many negative comments… lets hope for the Best.. at least i need to.. 15k here
I know that both banks and Cramer are loathed by many but this makes absolute sense to me.
Actually, it is a good time to buy Citi right NOW. You guys are underestimating C’s strength. You know it will rebound back up to like $5+ in a couple months and probably will be like, “DARN I missed that run”. I think $12 remark by Cramer is a joke, but this stock won’t keep going down. The market is acting too emotional over some analysts’ opinions. I’m going to buy more shares whenever C goes down. Probably like 4% of my portfolio.
$12 for C in 2012 is a “safe” prediction because it means people cannot get on him for it for another 2 years AT WHICH TIME most will have forgotten about this anyway. Give me a break. Let’s see Cramer make a prediction of where C will be in a year or half a year, something that actually requires a bit more thought and assessment. Furthermore, even with the TARP money hanging over Banks heads, a bank like BAC was able to drive its PPS back up to a respectable level while C just floundered badly and has been ever since. I wouldn’t touch C right now and I am not a basher whatsoever, I just do not believe in the company. Let’s see C even touch $5 again and stay in that range before talking about $12 haha
C will hits $5 by the end of January 2010.
Jed says: “C is going to die. Its overseas exposure will kill it. ”
1) C is NOT going to die, because the government won’t let it. Don’t you realize that that’s exactly what’s been going on here? Hello?
2) C’s overseas exposure is the best part of its business, and the reason to expect tremendous upside in the 2-4 year time frame.
I’m averaged in at about 3.35, and look forward to big gains. But not in the short term.
My advice if you’re holding C, like I am, and I admit, I bought at its peak, 10K shares at 5.25, is to wait. Don’t even look at the stock price, or the news, or the blogs until 2012. Why stress yourself out, panic, and sell for a major loss? Why look at it all the time, only to get disappointed. I think it’s fair to say that Citi will not go completely under. It’s too bid, too many deposits. So just chill out, wait a few years, and make some money.
I think the officers just threw the existing stockholders under the bus so they can get their huge bonuses. And they will do the same to the new stockholders.
I’m gonna wait til it hits $2.50 before the end of the year. Then buy. That way if it goes down to $2. I’ve only lost 20%.
I bought 100 shares of Citi at $ 52, when is it going to hit 52 again???
Remember Cramer and NYX – the shorts still hold the keys
Holding 5K at average 4.25. Will buy more around 3.20-3.30. Still have confidence with C in long term.
If you believe cramer, you will be a stupid investor. cramer just cares for himself, his business.
Citi stock will go up inevitably…It’s a big bank, the bailout was probably not necessary, it has a good name, it’s a favorite overseas, it is being watched by many and poised to perform. It will take time but $12 is not unreasonable in the long run. I think it’s a safe bet for a few grand…maybe 10 to 20K…a good return if it hits 12. I got in 10,500 shares at +- 2.00
Someone call the arabs to buy siti
Someone call the arabs to buy citi
yup, go ahead to load up Citi, Citi will go up in no time.
Citi are really too big to fail. recent 2009 Target is $3.00 and Target for 2012 is $12 remember!
Merry Christmas and Happy new year to reader!
The current management only know how to squeeze out the money from existing share holder to claims their bonus. They don’t know how to make C become profitable. Citi has continuous loss for the last two years. I don’t see any clue the existing management can do anything about it. With this lossing record, you are going to burn your cash if you invest in C. Wake up!!!
Now that’s a blind scam and people get fooled then some people like this guy gets pocket full. He is like a hungry wolf awaiting the foolish to pour out their money.
I bet he is waiting eagerly every single day!!!
The problem with people in the US or elsewhere is that they are easily fooled, like a whole bunch of the ignorants, by politics, the so-called f**king celebrities and those people like this guy advertising his s**t opinions. Wake up people, save the money for those bad times of yours so you dont have to complain later or apply for food stamps.
Because when you are hungry and poor and sick, the politicians, the celebrities and the scammers like this one are really have their good monkey sex in the kind-size bed with the money you have been fooled to give out. My advise: you can NOT count on greed, follow your own bend.
You are a fool, and I assume a child.