Not a lot of commentary needed here although the shout out to Gasparino by analyst Itay Michaeli deserves at least 10 brownie points. One can only imagine if GM had a research department what they would have to say about Citi's stock price target. But it would probably look like this, taken verbatim from the GM report:
"Given GM’s [CITI's] complex restructuring and Chapter 11 risk, valuing the stock remains very fluid. We value the shares off an out of court workout simulation consistent with GM’s [CITI's] 2012 plan."
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