Citi downgrades AIB and BOI

aib - sell - target changed from 6.0 to .30 massive move

boi - sell - traget changed from 2.15 to .15

terrible investment note.

Link? is that ADRs or Euro?


-------------------- European MarketScope SPEM --------------------
ALLIED IRISH BANK Citigroup downgrades to sell
from hold. Slashes target to EUR 0.30 from EUR 6.0.
Says Irish recapitalisation has the potential to
preserve shareholder interests, but fears the scale of
losses could be too great. Broker’s stress test
suggests Co. could need a further EUR 1.1bn of capital,
and notes concerns exist over whether the government
can continue to support banks when adding the assets of
Co. and Bank of Ireland would exceed 250% of GDP.
-------------------- European MarketScope SPEM --------------------
BANK OF IRELAND Citigroup downgrades to sell vs hold
- Cuts target to EUR 0.15 from EUR 2.15. Stress testing
for a three year period of high impairments and reduced
pre provision profits pushes Co. core Tier 1 ratio to
2.5%. This suggests that it could require EUR 1.8bn of
capital in addition to the recently announced EUR 3.5bn
government capital injection.

erm, they are alittle late aren’t they/ AIB hasn’t traded over 2 euro in weeks?

citi downgrade them?


yeah arent citi superfucked themselves and about to be bailed out yet again by the american taxpayer?

and citi being bust of cour7e makes their analysts stoopid…ffs.
The worjd has moved on and left us behind

Why is everyone shooting the messenger despite Citi’s current state this analyst is correct. Irish banks are virtually worthless.

Oh come on. We’ve been saying that for more than a year! Citi are as nimble as a whale on roller skates.

Citi had them as a sell previously, upgraded to hold recently enough. Doubt anyone who pays for Citi research still holds the Irish banks anyway.

Apart from other Irish banks I doubt many investors still hold Irish banks.