Citi Is Oppenheimer's Favorite Stock "Right Here, Right Now" (C)

Oppenheimer's favorite stock “right here, right now, is Citi C, which has corrected 13% off its recent high and is trading right at tangible book value.” “We think this correction was driven mainly by an investor rotation away from emerging markets stories to focus on purer US recovery plays, but we find this valuation very compelling at this point in the cycle,” Oppenheimer writes. “Citi in any case has plenty of leverage to US recovery.” Citi closed Wednesday at $4.59.