Analyst looks good after Citigroup call

Richard Bove, a financial services analyst at Punk, Ziegel, is looking good now that Citigroup has rallied to all-time high territory. In a recent report, before the big run-up, he argued that the stock was cheap. He made a case that CEO Charles Prince, who has been pretty maligned by investors, has righted the ship. Citigroup has made a strong commitment to technology, to building 1,000 branch offices around the world, to introducing new credit card products and to melding  wealth management and the corporate private bank. The bank also seems to be faring well in investment banking. All this will, in his opinion, adds up to a revitalized bank. He also waxed positive about the elevation of Robert Druskin to Chief Operating Officer. The subsequent rally seemed to confirm that this view is gaining ground.

For more:
- here's the article from Investment Dealers' Digest (For FierceFinance readers)