NEW YORK (TheStreet) -- Citigroup (C) and Wells Fargo (WFC) top the latest big U.S. bank recommendations from Guggenheim Partners, according to a report from the father-and-son analyst team of Marty and Mason Mosby.
Citigroup and Wells both have 25% upside over the next 12 months, the Mosbys argue compared to less than 10% upside for Bank of America (BAC), Morgan Stanley (MS), First Horizon National Corp. (FHN), Huntington Bancshares (HBAN) and Zions Bancorp (ZION). The Mosbys see just 5% upside for the S&P 500 Index over the same period.
"Our analysis suggests WFC is better positioned to weather the current mortgage transition than the market expects and that C's capital markets business should rebound in 4Q13 and 1Q14," the Mosbys write.His price target of $68 compares to his previous target of $64 and Monday's closing price of $52.62. Citigroup were down 16 cents to $52.46 in a few minutes after Tuesday's open. Wells Fargo shares closed at $44.18 Monday and were down two cents to $44.16 in early trading Tuesday. Mosby's 12-month price target is $56, up from $54 previously.
-- Written by Dan Freed in New York. Follow @dan_freed
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV