When the government starts unloading its Citigroup holdings, Cramer said Friday, that’s your signal to buy. He thinks there are few other stocks out there that offer as much upside.
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He praised the company for selling off its unessential divisions at good prices and focusing on the products that work. Cramer also commended CEO Vikram Pandit for turning the company around, something he gets little credit for. In fact, Cramer thinks Citi [C 3.50 0.07 (+2.04%) ] will reach $12 in 2012 largely because he knows Pandit is there steering the ship.
“Now that we know Pandit is here to stay,” Cramer said, “you want to buy all the Citigroup you can when the government starts selling its huge stake.”
“This may be the last great bargain left in the banking business on Wall Street,” he said. “Take it.”
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