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No. of Recommendations: 1
I have closed this sometime back when it was hitting the resistance at $53 and not able to break-out. Today, it just looks so smart, sometimes it is better to be lucky.

I am not a big fan of WFC, the thesis, while they are taking time to resolve their issues, and their net incomes stuck around $22 B, their share count is coming down, and at some point they will be able to increase their efficiency (right now it is the worst for the big banks) and that should set up this bank may be a year or so later nicely. They could get to 4B shares and $6 EPS, with 4% dividend yield at today's price.

So, I will get back into this name if it gets to $45 or so. More than WFC, I like Citi. Increasing profits, increasing dividend, reducing share count and have ability to get better. The EPS can get to $10 pretty soon, and the TBV is $69, the shares are trading modestly higher than TBV.
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