Citigroup receives an upgrade, while one analyst grows bearish on U.S. Steel and Micron Technology. Citigroup was upgraded to OVERWEIGHT from NEUTRAL at JPMorgan with its price target increased to $58 from $54. Analysts said the recently announced deal with Costco should drive revenue growth in its U.S. credit card business. U.S. Steel was downgraded to NEUTRAL from BUY at Nomura with its price target cut to $21 from $37. Micron Technology was cut to NEUTRAL from BUY with its price target reduced to $30 from $40. Nomura analysts said the company faces risks as Samsung gains market share in the memory chip industry.
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