August 14, 2009 / 12:28 PM / in 8 years

Citigroup shares rise after BofA-Merrill upgrade

NEW YORK (Reuters) - Shares of Citigroup Inc (C.N) rose 3.4 percent to $4.20 in premarket trading on Friday, after Banc of America-Merrill Lynch upgraded the company to “buy.” The third-biggest U.S. bank’s second-quarter results showed consumer credit delinquency stabilizing suggesting better loan loss trends in the quarters ahead, analysts, led by Guy Moszkowski, said.

Reporting by Ryan Vlastelica; Editing by Theodore d'Afflisio

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