Citi Believes Technical Rally In Artio Global Could Happen (ART)

Citi Investment Research said it sees the possibility of a technical rally in shares of Artio Global (NYSE: ART). It has a $18.50 price target and a Buy rating.

In a note to clients, Citi writes, "Stock could bounce on technicals, but we are not willing to chase — Despite
mixed takes from our call with management on 9/2; combo of deep underperformance YTD, high short interest, thin float, relatively high days to cover and inexpensive valuation could "melt up" stock should equities further rally."