Credit Suisse Near Fresh Lows as Analysts Flag Credibility Hit
- Shares extend seven-day decline, on track for a new record low
- Citigroup analyst has ‘little conviction’ in strategic plan
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Credit Suisse Group AG shares slid, leaving them near record lows, after two analysts said the struggling lender hasn’t unveiled enough of its turnaround plan to ascertain its viability.
The stock slipped as much as 3.9% on Tuesday, declining for a seventh straight session, after Citigroup Inc. and RBC Capital Markets LLC raised the concerns. The banks’ sell-side analysts were resuming research coverage, having been part of a syndicate that helped Credit Suisse drum-up demand for its rights offering last month.