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What’s Going on with the Banks? Citi Cuts Goldman to “Sell,” after Goldman Cut Citi to “Neutral”

by Wolf Richter, Wolf Street:

But bank stocks have skyrocketed over the past three months.

Citigroup hit back at Goldman Sachs, after Goldman Sachs had slammed Citigroup in September. Citi analyst Keith Horowitz, in a note to clients, downgraded Goldman from the already dismal “hold” to a rare “sell” rating, citing Goldman’s valuation. […]