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The Zacks Analyst Blog Highlights: Citigroup, J.P. Morgan Chase, Goldman Sachs Group, UBS AG and Deutsche Bank AG

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January 12, 2012 | Comment(s): 0
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C | JPM | GS | UBS | DB

For Immediate Release

Chicago, IL – January 12, 2012 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Citigroup Inc. ( C - Analyst Report), J.P. Morgan Chase & Co. ( JPM - Analyst Report), Goldman Sachs Group Inc. ( GS - Analyst Report), UBS AG ( UBS - Snapshot Report) and Deutsche Bank AG ( DB - Snapshot Report).

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Here are highlights from Wednesday’s Analyst Blog:

Citi’s China JV Gets Regulatory Nod

Citigroup Inc.’s ( C - Analyst Report) securities joint venture (JV) in China with Shanghai-based Orient Securities Co. has received a regulatory nod and with this Citi inches closer to increasing its foothold in the territory.

On Wednesday, Citi and Orient announced that China Securities Regulatory Commission have granted them the permission to form the JV, which will be named Citi Orient Securities Co. The JV will carry on investment banking activities including securities underwriting and sponsoring. This partnership was announced in June last year, and it is expected to be fully operational by mid-2012.

According to the terms of the agreement, Orient Securities will have a 66.7% stake in the JV and the remaining 33.3% will be held by Citi. This is the maximum permissible holding for a foreign entity according to the Chinese law.

In an effort to explore the thriving economy and a booming capital market, U.S. and U.K. banks are making efforts to set up JVs in China. With this, Citi joins the bandwagon of banks, such as J.P. Morgan Chase & Co. ( JPM - Analyst Report), Goldman Sachs Group Inc. ( GS - Analyst Report), UBS AG ( UBS - Snapshot Report) and Deutsche Bank AG ( DB - Snapshot Report) to have set up such JVs in China.

The JV in China is a strategic fit for Citi as the company is aiming to grow its business in international markets and particularly in the emerging economies. Going forward, we believe that such strategic partnerships will enhance Citi’s global network and boost its revenue base by leveraging on faster-growing economies like China, thereby increasing its market share internationally.

Citi currently retains its Zacks #3 Rank, which translates into a short-term Hold rating.

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About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

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Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leon Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.

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Read the full analyst report on C

Read the full analyst report on JPM

Read the full analyst report on GS

Read the full analyst report on UBS

Read the full analyst report on DB

 

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Market Summary May 16, 2012 18:53 pm ET
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