Filed under: Newsletters, Citigroup Inc. (C), Bargain stocks, Stocks to Buy, Best Stocks for 2008
For 25 years, Steven Halpern, editor of TheStockAdvisors.com, has surveyed the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is one of 100+ ideas in the Best Stocks for 2008 report.
“In a perverse twist of irony, more adventurous investors could choose Citigroup (NYSE: C), which is my speculative favorite for 2008,” says Keith Fitz-Gerald, editor of Money Morning.
“I recognize that you might be thinking that I’ve completely lost my mind. But I believe this is an opportunity to buy into one of the world’s fastest growing and best run financial companies at a bargain basement price.
“First, what’s causing Citi’s current angst is related to a breakdown of risk management — not the deterioration of operations. The company remains globally diversified, and many portions of its business still reflect double-digit growth rates, particularly when it comes to China and Eastern Europe.
“In my view, Citi is now trading for a pittance. In fact, it’s just barely seven times earnings and eight times 2008 earnings. Yet if you add up the growth prospects and current valuations, the company reflects a value that could be as high as $60 or more a share.
Continue reading Best Stocks for 2008: Contrary call on Citigroup (C)
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