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Fly News Breaks for March 6, 2015
C
Mar 6, 2015 | 13:06 EDT
As noted earlier, Portales downgraded Citi to Underperform from Sector Perform. The firm believes that the Fed will approve Citi's request to return capital to its shareholders, but predicts that the amount returned will be disappointing. Specifically, the firm thinks that Citi will return less than $7B to its shareholders. The firm also believes that 2015 earnings estimates for the bank will drop as early as mid-April.
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