Oppenheimer Comments on the Banks

Oppenheimer released a report yesterday in which they characterized banking stocks as being "cheap". Oppenheimer has a price target of $59 on Citigroup C, $205 on Goldman Sachs GS, $62 on J.P. Morgan JPM, $31.50 on Morgan Stanley MS, $30 on US Bancorp USB, and $38 on Wells Fargo WFC. On Monday, these shares closed at the following prices: Citigroup at $40.16, Goldman Sachs $135.84, J.P. Morgan $42.55, Morgan Stanley $23.69, U.S. Bancorp $24.93, and Wells Fargo $27.53.