Just when you think there is a limit to laughable bullish calls, Dick Bove wakes up on a Friday and says Citi, "the only truly international bank in the world", is a buy. Among Bove's reasons for putting your $3 and change to work in Citi is Sheila Bair's favorite, that Citi is "too big to fail", and its earnings.
Citigroup's normalized earnings estimate makes the bank attractive, Bove said. Though it will take time to return to the core business, Citi will have that time, he said, explaining why he is positive on the company's outlook.
Citigroup is a Buy: Bove [CNBC]