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Sinking Credit Suisse Stock Is a ‘Buy for the Brave,’ Says Citi

  • Shares hit fresh low while credit risk gauge hits record high
  • Citi sees ‘significant execution risk’ in any new plan
Bloomberg business news
Watch: Credit Suisse shares fell as much as 12% on Monday.Source: Bloomberg

Credit Suisse Group AG shares are now a “buy for the brave,” said Citigroup Inc. analysts on Monday, as the Swiss bank’s stock plunged to a fresh low.

A closely-followed gauge of credit risk for the bank is at record high, even after its Chief Executive Officer Ulrich Koerner had sought to calm employees over the weekend. The word of reassurance came ahead of Credit Suisse’s strategic plan -- on possible asset and business sales -- to be unveiled at the end of October.