Och-Ziff Capital pullback looks overdone, says Citigroup

africatodayonline.blogspot.com -

News Breaks April 29, 2014 06:15 EDT OZM Och-Ziff Capital pullback looks overdone, says Citigroup Citigroup views yesterday's pullback in shares of Och-Ziff Capital after the Wall Street Journal noted the SEC and Justice Department are investigating the company's loans made for African oil and mining deals as overdone. Citi notes the sell-off lowered Och-Ziff's market capitalization by $600M despite $225M of loans that were subsequently re-paid. Citi sees see little economic impact from the investigations and keeps a Buy rating on the stock with a $17.50 price target. News For OZM From The Last 14 Days Check below for free stories on OZM the last two weeks. Sign up for a free trial to see the rest of the stories you've been missing. April 29, 2014 07:05 EDT OZM Och-Ziff Capital volatility of 51 at upper end of 30-month range Subscribe for More Information 06:15 EDT OZM Och-Ziff Capital pullback looks overdone, says Citigroup Citigroup views yesterday's pullback in shares of Och-Ziff Capital after the Wall Street Journal noted the SEC and Justice Department are investigating the company's loans made for African oil and mining deals as overdone. Citi notes the sell-off lowered Och-Ziff's market capitalization by $600M despite $225M of loans that were subsequently re-paid. Citi sees see little economic impact from the investigations and keeps a Buy rating on the stock with a $17.50 price target. April 28, 2014 16:35 EDT OZM On The Fly: Closing Wrap Subscribe for More Information 14:44 EDT OZM Och-Ziff Capital slides after report of controversial mining deals Subscribe for More Information April 27, 2014 18:29 EDT OZM Och-Ziff loans helped finance controversial mining deals in Congo, WSJ says In March, Och-Ziff Capital disclosed that the SEC and Justice Department were investigating the firm due to Foreign Corrupt Practices Act and related laws, and that the probe centered on some of its funds investments in companies in Africa, says the Wall Street Journal. According to documents reviewed by the Wall Street Journal, Och-Ziff made loans to companies controlled by controversial mining executive Dan Gertler that helped finance two of Gertler's ventures in the Democratic Republic of Congo, added the Wall Street Journal. Reference Link Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com

disclaimer & terms of use