Qiagen NV (Nasdaq:QGEN) forced Citigroup to drink some Kool-Aide and upgrade their stock recommendation from Sell to Neutral. The olde target price was $18.00 new target $24.00
Current price is round OMG just under $24.00. Lets face it Citigroup does not believe in the story but got run over by the market.
Not that I’m cynical or anything but watch for a big rethink resulting in Citigroup going bullish and then maybe some iBanking fees coming in.
Short Ratio 8.43% Percentage of float short 2.56%. Citigroup is probably servicing the short side.
George Gutowski writes from “A Caveat Emptor Perspective”