Citigroup Says Buy Japan Post Bank After IPO Hangover: ChartBy
Japan Post Bank Co. is now a buy after the shares fell below their initial public offering price last week, according to Citigroup Inc. The stock has gained 12 percent since it reached 1,405 yen on Jan. 21, the lowest since the November IPO price. “Overvaluation has been erased with the fall in the share price since the start of the year,” Citigroup analyst Kentaro Kogi wrote in a Jan. 26 note, raising his rating from neutral.
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