UPDATE: Citi Color on Office Depot PT Decrease

Citi, which lowered its PT on shares of Office Depot ODP, is providing some color on the stock. “We are lowering our 2Q11 estimates to a loss of ($0.11) from a loss of ($0.07) based on lower sales growth assumptions,” Citi writes. “Our FY11 estimates go to a loss of ($0.04) from $0.00. We are maintaining our FY12/13 estimates at $0.21 and $0.24 respectively.” Office Depot closed Friday at $3.87.