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Listen to Citigroup Analysts at Your Own Peril

Posted on July 02, 2009

Citigroup analysts appear to be a hopeless lot. Please consider this July 1, analyst recommendation: Citi tells clients to buy Bank of America.The analysts added Bank of America (BAC) to their Ten+ Aggressive Growth List, telling clients that the Charlotte, N.C.-based company is a good long-term investment and that it should return to normalized annual earnings of $3 a share in a few years. We believe the firm stands to benefit long term from market-share gains across a variety of businesses, including traditional banking, mortgage origination, retail brokerage, and investment banking, Citi...

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