UPDATE: Morgan Stanley Reiterates On Citigroup Following DoJ News

In a report published Monday, Morgan Stanley analyst Betsy L. Graseck reiterated an Overweight rating on Citigroup (NYSE: C), but removed the $58.00 price target.

In the report, Morgan Stanley noted, “According to the June 13 article citing people familiar with the matter, the DoJ is looking for more than $10B to settle its probe into C's pre crisis RMBS issuance, and is likely to sue if C doesn't up its offer of less than $4B. Citi has not commented.”

Citigroup closed on Friday at $47.59.